Massive bullish over the last two days revives the crypto market

Indicators

With the dominance of bullish action over the market, we see the relative strength index ascend above the 50 mark, indicating a bulls' takeover of the market momentum.
On the 8th of March, the bullish action resulted in a rise of the RSI to 45.24. With the sustained bullish action on the 9th of March, we see a consecutive rise in the relative strength index to 53.74.
The histogram shows significantly reduced bearish action as it prepares to shift above the zero line. In correlation to other indicators, we see the MACD making its way to the zero line, above which signifies bullish dominance of the market. However, with the MACD still below the zero line, the bulls are yet to gain control of the market.

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Ethereum / US Dollar

Consecutive bullish action over the last two days sees the Ethereum market gain ground in its chase to get above its 50-day moving average of $2,771 per coin.

On the 8th of March, the bulls initiated a response to the previous bearish action seen in the market after flipping an initial bearish start to the market indicated by the wick below the candle, which denotes the lowest trading Ethereum price for the day at $2,480 per coin. With the successful bullish dominance of the market, the bulls influenced a 3.42% increase in the ETH price, bringing the price of each coin to $2,576. The chart also illustrates the bearish rejection of further bullish action, indicated by the wick above the candle, placing the highest trading price of ETH for the day at $2,626 per coin.

At the start of the 9th of March, the bulls continue their market momentum, resulting in a 5.75% increase in the ETH price, translating to $2,724 per coin, while the highest and lowest trading prices seen so far stand at $2,730 and $2,567, respectively. Nevertheless, with the market still hours from its close, we likely would see changes in these values.

Indicators

With the bullish action over the last two days, the relative strength index of the market is making a steep ascent to the 50 mark, indicating growing bullish activity in the market.
On the 9th of March, the bullish action resulted in a rise of the RSI to 42.93, and with the continued bullish action on the 9th of March, we see a consecutive rise in the relative strength index to 48.76.
The histogram and MACD remain below the zero line, indicating a residual bearish hold on the market; however, due to the massive bullish action seen over the last two days, we see these indicators make their way to the zero line above, which places the market in bullish territory.

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Ripple / US Dollar

As with several other assets, the Ripple market has seen significant bullish action, increasing the bull’s hold on the market as indicated by the candle rise farther above the 50-day moving average of $0.720 per coin.
On the 8th of March, the bulls gained dominance of a heavily contested market, resulting in a diminished 0.08% price increase, bringing the Ripple price to $0.720 per coin, while the wick above and below the candle denotes the highest and lowest trading prices seen in the market at $0.730 and $0.712, respectively.

At the start of the 9th of March, the bulls have initiated a massive start to the day, resulting in a significant 3.39% growth in the Ripple market, bringing the price of each asset to $0.745 per coin. With the market still in its early hours, more volatility is expected in the day. Nevertheless, as of the writing of this piece, the highest and lowest price points seen in the market stand at $0.750 and $0.719.

Indicators

With the dominance of bullish action over the market, we see the relative strength index deflect toward the 50 mark, indicating a growing bullish presence in the market.
On the 8th of March, the bullish action resulted in a rise of the RSI to 46.61. With the sustained bullish action on the 9th of March, we see a rise in the relative strength index to 50.06.
The histogram and MACD remain below the zero line indicating a bearish control of the market. However, over the last two days, we see a reduced bearish hold on the market with the bullish action.

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Litecoin / US Dollar

On the 8th of March, the bulls flipped an initial bearish move, indicated by the wick below the candle, which placed the lowest trading price of LTC for the day at $97 per coin. The LTC market increased by 2.44%, bringing the asset price to $100 per coin. The wick above the candle illustrates a bearish attempt at minimizing the day's gains, placing the highest LTC trading price for the day at $102 per coin.
At the start of the 9th of March, the bulls are seen continuing their previous momentum after flipping a bearish start to the day, indicated by a small wick below the candle, denoting the lowest trading price of LTC for the day at $100 per coin. With the bullish dominance over the market momentum as at the writing of this piece, the Litecoin market is up by 5.92%, bringing the LTC price to $106 per coin. The wick above the candle denotes bearish resistance to further bullish action, placing the highest LTC price so far at $106 per coin.

Indicators

The LTC relative strength index remains below the 50 mark; however, due to the bullish action over the last two days, we see the RSI deflect towards the 50 mark, indicating increasing bullish entry into the market.
On the 8th of March, the bullish action resulted in a rise of the RSI to 40.70, while the continued bullish action on the 9th of March has resulted in a fall of the RSI to 46.58
The histogram and MACD remain below the zero line indicating a bearish control of the market. However, over the last two days, we see a reduced bearish hold on the market with the bullish action.

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Bitcoin Cash / US Dollar

On the 8th of March, the bulls flipped an initial bearish move, indicated by the wick below the candle, which placed the lowest trading price of Bitcoin Cash for the day at $272 per coin. The Bitcoin Cash market rose by 3.90%, bringing the asset price to $284 per coin. The wick above the candle illustrates a bearish attempt at minimizing the day's gains, placing the highest BCH trading price for the day at $289 per coin.

At the start of the 9th of March, the bulls are seen continuing their previous momentum after flipping a bearish start to the day, indicated by the wick below the candle, denoting the lowest trading price of Bitcoin Cash for the day at $283 per coin. With the bullish dominance over the market momentum at this piece's writing, the Bitcoin Cash market is up by 7.09%, bringing the BCH price to $304 per coin. The wick above the candle denotes bearish resistance to further bullish action, placing the highest BCH price so far at $307 per coin.

With the above values over the last two days, it is evident that the bulls are gaining on their target of getting the market back above its 50-day moving average of $309 per coin.

Indicators

The Bitcoin Cash relative strength index has deflected towards the 50 mark, showing the increasing entry of the bulls into the market.
On the 8th of March, the bullish action resulted in a rise of the RSI to 41.88, while the continued action on the 9th of March has resulted in a rise of the RSI to 49.06.
The histogram and MACD remain below the zero line indicating a bearish control of the market. However, over the last two days, we see a reduced bearish hold on the market with the bullish action.

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Cardano / US Dollar

The ADA market remains under a bearish downtrend despite the consecutive bullish action over the last two days to gain on its 50-day moving average of $1.01 per coin.
On the 8th of March, the bulls initiated a momentum after flipping an initial bearish action indicated by the wick below the candle, which denotes the lowest trading price of ADA for the day at $0.787 per coin. With the bullish dominance of the market, the bulls influenced a 1.12% increase in the ADA price, bringing the price of each coin to $0.802. The chart also illustrates the bearish rejection of further bullish action, indicated by the wick above the candle, placing the highest trading price of ADA for the day at $0.821 per coin.

At the start of the 9th of March, the bulls are continuing their previous momentum after flipping yet again an initial bearish move, indicated by the wick below the candle, which also denotes the lowest trading price of ADA seen so far at $0.799 per coin. With the bullish dominance at the day’s start, the ADA market is up by 4.77%, bringing the ADA price to $0.840 per coin. The wick above the candle denotes bearish resistance to further bullish action, placing the highest ADA price so far at $0.857 per coin. Nevertheless, with the market still hours from its close, we likely would see more volatility.

Indicators

The relative strength index of the ADA market remains below the 50 mark but shows an ascent toward the 50 mark, indicating growing bullish entry into the market.
On the 8th of March, the bullish action resulted in a rise of the RSI to 35.43. With the bullish start to the 9th of March, we see a rise in the relative strength index to 41.25.

The histogram and MACD remain below the zero line indicating a bearish control of the market. However, we see a reduced bearish hold on the market over the last two days with the bullish action.

Swap to ADA

Dogecoin / US Dollar

The Dogecoin market remains below its 50-day moving average of $0.138 per coin, depicting a market under bearish control.
On the 8th of March, the bulls initiated a heavily contested move, resulting in a 0.34% rise in the Dogecoin price, translating to $0.117 per coin. The highest and lowest Dogecoin trading prices for the day stood at $0.120 and $0.115, respectively.

At the start of the 9th of March, the bulls are seen continuing their previous bullish momentum after flipping a bearish start to the day, indicated by the wick below the candle, denoting the lowest Dogecoin price for the day at $0.116 per coin. With the bullish dominance over the market momentum as at the writing of this piece, the Dogecoin market is up by 4.44%, bringing the Doge price to $0.122 per coin. The wick above the candle denotes bearish resistance to further upward action, placing the highest Dogecoin price so far at $0.124 per coin.

Indicators

The Dogecoin market remains with the bears dominating the market strength as indicated by the relative strength index of the market being below the 50 mark; however, recent bullish action sees the RSI ascend toward the 50 mark.
With the above, we see the relative strength index on the 8th and 9th of March stand at 35.14 and 41.09, respectively. In correlation to the RSI, the MACD portrays a market within bearish control as it is placed below the zero line, creating a negative outlook for the asset. However, the histogram shows a little bullish entry into the market.

Swap to DOGE

Correlations

• Bitcoin / Ethereum = 0.86
• Bitcoin / Ripple = 0.76
• Bitcoin / Litecoin = 0.76
• Bitcoin / Bitcoin cash = 0.81
• Bitcoin / Cardano = 0.83
• Bitcoin / Dogecoin = 0.76

Keynotes for today

• Bitcoin at $41,600 per coin.
• Ethereum at $2,724 per coin.
• Ripple at $0.745 per coin.
• Litecoin at $106 per coin.
• Bitcoin Cash at $304 per coin.
• Cardano at $0.840 per coin.
• Dogecoin at $0.122 per coin.