Ripple continues its bullish rally, while other assets stay in the green

Indicators

With the Bitcoin market experiencing three consecutive days of bullish action, we see the relative strength index rise with this price action. On the 21st of December, we see the relative strength index increase to 44, indicating increasing bullish entry into the market. This is continued at the start of the 22nd of December where the relative strength index is up to 45.
Despite the growing entry of the bulls into the BTC market, the relative strength index remains below the 50 mark, indicating the overall dominance of the bears due to previous price actions. Therefore, for the bulls to change this, they must sustain their bullish action to get the RSI above 50.
In correlation to the relative strength index, the MACD shows a deflection to the upside, indicating a growing bullish presence. This is correlated by the histogram, which shows increasing bullish intensity.

Ethereum / US Dollar

As with several altcoins on the market, Ethereum has also experienced consecutive bullish action, initiated during the rejection of a further price drop on the 20th of December. On the 21st of December, we see the ETH bulls resist bearish action as indicated by the wick below the candle and turn this resistance into momentum, which saw the ETH market rise by 1.80% to bring the ETH price to $4,017 per coin. The wick above the candle indicates the rejection of further price growth by the bears, and this rejection comes at the highest price achieved by the ETH market for the day, at $4,063. The lowest price seen during this day is $3,908.

On the 21st of December, the Ethereum market was up by 0.29% from an opening price of $4,017 in an early move by the bulls to gain control of the market, resulting in a price increase to $4,038 per coin. However, the wicks above and below the candle signify a struggle between the bulls and bears for market dominance. The highest and lowest price points currently stand at $4,075 & $3,995, respectively, subject to change depending on which party comes out on top.

Indicators

Concerning the consecutive days of price growth, we see the relative strength index making its way to the 50 mark, above which the bulls effectively dominate the market. However, this will require that the bulls maintain the buying pressure, but the bears remain the dominant force for now.

On the 21st of December, the price increase resulted in the relative strength index's rise to 47.30, and this is seen on the 22nd of December as continued bullish action sees the RSI rise to 47.51

The MACD shows a deflection to the upside, and this is also seen with the histogram, indicating an increasing bullish presence in the market.

Ripple / US Dollar

XRP remains one of the consistent performers in the market as the asset takes on its fifth day of bullish consistency. On the 21st of December, the XRP price increased by 7.84%, bringing its price to $0.946 coin. Following this move, we see the Ripple bulls making progress to the 50-day moving average of $0.999 on the 22nd of December with a 0.76% price increase from an opening price of $0.947 to bring the XRP price to $0.954 per coin. With so much time on the clock, the bulls could succeed in getting XRP back above its moving average; however, the wicks above the candle suggest the bears are trying to prevent further price growth. As of the writing of this piece, the highest and lowest price points achieved are $0.973 and $0.932 per coin.

These values across the last few days show a strong bullish presence in the market, and if this is sustained, we might see XRP get back to $1 per coin below the end of the year.

Indicators

As a reflection of the consistent bullish presence in the market, the relative strength is back above the 50 mark as its value on the 21st and 22nd of December stands at 56 and 57, respectively. Therefore, placing the bulls in control of the market.
The MACD remains below the zero line despite bullish action. This is due to the long-term bearish action the XRP market experienced previously; however, with this bullish momentum, we see the MACD make its way to the zero line above which the XRP market gets in bullish control. The Histogram shows an increasing bullish presence in the market.

Litecoin / US Dollar

As with several assets, the Litecoin market is also experiencing bullish action; on the 21st of December, the bulls gained control over the market, but this was with major resistance from the bears, restricting gains to 1.37% to bring the LTC price to $154 per coin. The highest and lowest price points achieved are $156 and $149, respectively.

On the 22nd of December, we see the bulls capitalising on their previous momentum, which has so far resulted in a 1.39% increase to bring the LTC price to $156 per coin. The highest and lowest price points achieved so far are $158 and $153, respectively, and this is subject to change depending on what party becomes the dominant force by the end of the day.

Despite the bullish action, the LTC market still trades below its 50-day moving average of $196, and from the above chart, we can see the bulls haven't made a significant move to get the market back above this average. Over this period, the LTC market remains in a downtrend.

Indicators

Concerning the gradual bullish action seen in the market, we see the relative strength index make a steady ascent to the 50 mark indicating slow-growing bullish activity. On the 21st and 22nd of December, we see the relative strength index rise consecutively to stand at 41 and 43, respectively. However, with both values below the 50 mark, the LTC market remains predominantly bearish.
In correlation to the short-term bullish activity in the market, the MACD has deflected the upside, which is correlated by the histogram, indicating a growing bullish presence. However, over the long term, the MACD remains below the zero line, indicating overall bearish dominance of the LTC market.

Bitcoin Cash / US Dollar

From the above chart, we see the Bitcoin Cash bulls have initiated a pushback on the 21st of December in response to bearish action on the previous day, resulting in a 1.78% price increase to bring the Bitcoin Cash price to $437 per coin. On the 22nd of December, we see the bulls attempting to continue their moment after rejecting a bearish push as indicated by the wick below the candle, therefore, influencing a 1.19% increase to bring the Bitcoin Cash price to $443 per coin. With the market only being halfway through the day, the highest and lowest price points achieved so far are $443.46 and $434, respectively.
With both values still below BCH's 50-day moving average of $544, the Bitcoin Cash market remains predominantly in a downtrend.

Indicators

Following the bullish action on the 21st and 22nd of December, the relative strength index increased on these days to 38 and 40, respectively, reflecting increasing bullish entrance into the market. However, with both values remaining below the 50 mark, the bears remain the dominant force over an extended period.
The MACD shows a deflection to the upside, which corresponds to the bullish action seen over the last two days, and this correlates with the histogram, which shows an increasing bullish presence.
Nevertheless, the bears remain the dominant force over an extended period, as indicated by the MACD below the zero line.

Cardano / US Dollar

Despite being in a clear bearish trend since all-time highs, the 21st and 22nd of December see consecutive bullish action.
On the 21st of December, we see the bulls respond to a bearish push the previous day, resulting in a 3.39% price growth to bring the ADA price to $1.28 per coin. On the 22nd of December, we see the bulls continuing this momentum, resulting in a 6.41% increase to bring the ADA price to $1.36 per coin, with the highest and lowest price points achieved during the day standing at $1.368 and $1.276, respectively.
Though under the bullish influence, the ADA market remains predominantly bearish over an extended period, as indicated by the market trading below its 50-day moving average of $1.64.

Indicators

Following consecutive bullish actions on the 21st and 22nd of December, we see the relative strength index rise to 40 and 46, respectively, indicating a growing bullish presence in the market. However, with the RSI still below 50, the bears remain the dominant force, and the bulls are required to sustain the momentum to get this value above 50.
The MACD in correlation to the RSI of the last two days shows increased bullish presence by deflecting upward, which is correlated by the histogram. However, due to the extensive bearish action experienced by the ADA market over the last few months, the MACD remains below the zero line, indicating overall bearish dominance.

Dogecoin / US dollar

Following bearish activity on the 20th of December, the 21st sees the bulls pick up the momentum to bring the Dogecoin market to $0.171 per coin, translating to a 2.21% price growth in the last 24 hours.
On the 22nd of December, the bulls moved to capitalise on the previous momentum, resulting in a further 3.27% price increase to bring the Dogecoin price to $0.176 per coin. Currently, the highest and lowest price points seen in the Dogecoin market are $0.180 and $0.169, respective. However, with the market still in session, these values are subject to change.
Despite the bullish action over the last two days, the Dogecoin market remains predominantly bearish, as indicated by it trading below its 50-day moving average of $0.21.

Indicators

Following two consecutive days of bullish action, the relative strength index of Dogecoin makes a return to the 50 mark. However, with the values still short of this mark, the market remains predominantly bearish.
On the 21st of December, the relative strength index stood at 41, and following the continued bullish action, the 22nd of December saw a relative strength index of 44.
Over the short term, the MACD deflects to the upside, indicating a growing bullish presence, which is correlated by the histogram. However, the MACD remains in bearish control over the long term as it is placed below the zero line.

Correlations

• Bitcoin / Ethereum = 0.85
• Bitcoin / Ripple = 0.53
• Bitcoin / Litecoin = 0.83
• Bitcoin / Bitcoin cash = 0.85
• Bitcoin / Cardano = 0.63
• Bitcoin / Dogecoin = 0.65

Keynotes for today

• Bitcoin is edging closer to the $50,000 mark. Current price at $49,293 per coin.
• Ethereum is back above $4,000. Current price at $4,038 per coin.
• Ripple continues its bullish momentum. Current price at $0.954 per coin.
• Litecoin at $156 per coin.
• Bitcoin Cash at $443 per coin.
• Cardano at $1.36 per coin.
• Dogecoin at $0.176 per coin.