The bears remain in control of the crypto market

News • 2022/03/14 • by
remitano

Bitcoin / US Dollar

Over the weekend, the Bitcoin market experienced a predominance of bullish action over bearish action; however, the Bitcoin market still remains below its 50 mark, illustrating a market yet to break out of a downtrend.
On the 12th of March, the bulls gained dominance over a heavily contested market indicated by significantly reduced gains for the day. With the bullish move of the day, the Bitcoin market increased by a diminished 0.21%, bringing the price of each coin to $37,793 per coin, while the highest and lowest price of Bitcoin for the day stands at $39,472 and $38,654, respectively.

On the 13th of March, we see the bears responding to the previous bullish momentum as illustrated by increased selling volumes, resulting in a bearish dominance of the market. With the bearish move for the day, the Bitcoin price fell by 2.63%, bringing its price to $37,793 per coin with the highest and lowest Bitcoin trading price for the day standing at $39,318 and $37,580, respectively.

On the 14th of March, the bulls flipped an initial bearish start to the market, flipping the market in their favor as indicated by the wick below the candle, which also denotes the lowest Bitcoin trading price for the day at $37,560 per coin. With the bullish domination of the market, the bulls have influenced a 2.56% rise in the Bitcoin price, offsetting the losses from the previous day and bringing the price of each coin to $38,761. The chart also illustrates a slight bearish resistance to further bullish action as indicated by the wick above the candle, denoting the highest coin price seen so far at $38,925.

Indicators

With the predominance of the bulls over the bears, we see the relative strength index of Bitcoin ascend towards the 50 mark, above which s. On the 5th of March, the bullish action resulted in a rise of the RSI to 46.24. With the bearish dominance on the 6th of March, we see a fall in the relative strength index to 43.72. With the bullish start to the 7th of March, we see a rise in the relative strength index to 44.76.
In correlation with other indicators, the MACD remains below the zero line, indicating a negative outcome for the asset, while the histogram shows bearish intensity in the market.

Buy and sell BTC on Remitano

Ethereum / US Dollar

As with the Bitcoin market, the Ethereum market remains below its 50-day moving average of $2,755 per coin; however, the chart also shows a contested bullish action On the 12th of March, with the bulls influencing a 0.50% rise in the ETH price, translating to $2,569 per coin. The wick above the candle denotes a bearish attempt at diminishing the gains seen in the market for the day, placing the highest trading price of ETH at $2,617 per coin, while the lowest ETH trading price for the day stands at $2,552 per coin.

With the bearish dominance of the market on the 13th of March, the bears influenced a 2.06% drop in the ETH price, bringing the price of each coin to $2,516. The chart also illustrates the bullish rejection of further bearish action. They attempted to minimize the losses seen on the day, indicated by the wick below the candle and placing the lowest price of Ethereum for the day at $2,492 per coin.
At the start of the 14th of March, we see the bulls reignite their previous momentum, resulting in a bullish dominance of the market at its start with visible bearish resistance; with the bullish move for the day, the Ethereum price is up by 2.21%, bringing its price to $2,572.

Indicators

The ETH relative strength index remains below 50, indicating overall bearish dominance. On the 12th of March, the bullish action resulted in a rise of the RSI to 43.79. With the bearish start to the 13th of March, we see the relative strength index fall to 41.99. On the 14th of March, continued bullish action sees the RSI rise to 44.
The histogram and MACD remain below the zero line, indicating bearish dominance of the market and a negative outlook for the asset.

Buy and sell ETH on Remitano

Ripple / US Dollar

From the above chart, we see the Ripple market above its 50-day moving average of $0.731 with the bulls maintaining the market within their grasp.
The bears initiated a move on the 12th of March, resulting in a 2.10% drop in the Ripple price, translating to $0.785 per coin. The wick above the candle means the bears flipped an initial bearish move which also denotes the highest Ripple trading price for the day at $0.705 per coin, while the highest trading price of Ripple for the day stood at $0.849 per coin.

At the start of the 13th of March, the bears continued their dominance over the market, resulting in a 3.17% drop in the Ripple price, translating to $0.760 per coin with the highest and lowest trading prices achieved at $0.776 and $0.745, respectively.
At the start of the 14th of March, we see the bulls initiate a momentum following the bearish dominance of the previous day. The Ripple market is up by 0.55%, translating to $0.765 per coin with this move. However, with the market still in its early hours, we could see more volatility. Nevertheless, as at the writing of this analysis, the highest and lowest price points stand at $0.776 and $0.745, respectively.

Indicators

With the bullish action on the 14th, we see the relative strength index maintain a level above the 50 mark, indicating bullish dominance of the market momentum. The relative strength index on the 12th, 13th, and 14th of March stand at 54,51., and 51.52, respectively. The MACD and histogram illustrate gradual bullish entry into the market in correlation to the RSI. They maintain a level above the zero line, reflecting the bullish dominance over the market.

Buy and sell XRP on Remitano

Litecoin / US Dollar

The above chart shows that the Litecoin market remains in bearish control as it remains below its 50-day moving average of $113 per coin.
The bulls initiated a move on the 12th of March, resulting in a 0.99% rise, bringing the LTC price to $105 per coin. With the continued struggle for market dominance, we see the highest and lowest price points achieved for the day at $107 and $104, respectively.

On the 13th of March, the bears initiated momentum, influencing a 3.68% drop, bringing the LTC price to $101 per coin. At the start of the 14th of March, we see the bulls initiate a momentum after flipping an initial bearish start to the market and influencing a 3.34% rise in the LTC price, translating to $105 per coin, while the highest and lowest price points seen in the market stand at $105 and $100, respectively. With much time left to the close of the market for the day, these values are subject to change due to volatility.

Indicators

The relative strength index indicates a market in bearish control with its relative strength index value below the 50 mark. On March 12th, 13th, and 14th, the relative strength index stands at 46, 43, and 46, indicating growing bullish activity.
In correlation to the RSI, we see increasing bullish activity in the MACD and histogram though the market reflects an overall bearish dominance over the market and, with these indicators below the zero line, a bearish outlook for the asset.

Buy and Sell LTC on Remitano

Bitcoin Cash / US Dollar

As with several other crypto assets over the last three days, the Bitcoin Cash market remains in bearish control as it trades below its 50-day moving average of $305 per coin.
On the 12th of March, the bulls initiated a momentum following bearish action over the previous days after flipping of an initial bearish start to the market, resulting in a 1.11% increment in the Bitcoin Cash price, translating to $290 per coin, with the highest trading price of $294 per coin, while the lowest trading price for the day as indicated by the wick below the candle stands at $287 per coin.

Following the bullish dominance of the previous day, the bears initiated a momentum on the 13th of February, resulting in a 3.83% drop in the Bitcoin Cash price, translating to $279 per coin, with the highest and lowest price points seen in the market at $296 and $278, respectively.

At the start of the market on the 14th of March, the bulls have an early start after toppling an initial bearish action as indicated by the wick below the candle, influencing a 1.45% increase in the Bitcoin Cash price as at writing this piece, translating to $283 per coin. With the market yet to close for the day, we likely will see more volatility; however, Bitcoin Cash's highest and lowest trading prices stand at $288 and $277, respectively.

Indicators

The Bitcoin Cash market remains bearish as its relative strength index over the last few days remains below the 50 mark. We see the relative strength index on the 12th, 13th, and 14th of March stand at 45, 42, and 43. The bearish outlook for the asset is correlated by the histogram and MACD, with the MACD below the zero line.

Buy and sell BCH on Remitano

Cardano / US Dollar

On the 12th of March, the bulls gained control of a contested market, resulting in an ADA rise of 0.16%, bringing the ADA price to $0.789 per coin. The highest and lowest price points achieved stood at $0.801 and $0.785.
Following the dominance of the bulls on the previous day, the bears initiated a move on the 13th, resulting in a drop of 0.28%, bringing the ADA price to $0.787 per coin. The highest and lowest price points achieved stood at $0.820 and $0.780, respectively.
We see the bulls attempting to revive the ADA market on the 14th of March, resulting in a 1.02% growth as of this piece's writing, bringing the ADA price to $0.795 per coin. With the market still far from its close, we will likely see more volatility. Nevertheless, the current highest and lowest price points seen in the market stand at $0.813 and $0.777, respectively.

With the bearish action over the last few days, the ADA market remains away from its 50-day moving average, portraying a bearish outlook.

Indicators

With the volatile price action over the last few days, we see the ADA relative strength index below the 50 mark, indicating bearish dominance on the market. With the above, the RSI on the 12th, 13th, and 14th of March stands at , 36.78, 36.60 and 37.
In correlation to the RSI, we see the MACD away from the zero line, which places the bears as the dominant force in the market while the histogram shows growing bullish entry into the market.

Swap to ADA

Dogecoin / US Dollar

On the 12th of March, the bears continued their previous momentum, resulting in a 0.43% drop in the Dogecoin price, translating to $0.114 per coin.

On the 13th, the bears continued their previous momentum, resulting in a drop of 2.96%, bringing the Dogecoin price to $0.111 per coin. The highest and lowest price points achieved stood at $0.116 and $0.109, respectively.
We see the bulls restarting their momentum on the 14th of March, resulting in a 2.33% rise at this piece's writing, bringing the Dogecoin price to $0.114 per coin. With the market still far from its close, we will likely see more volatility. Nevertheless, the current highest and lowest price points seen in the market stand at $0.122 and $0.110, respectively.

With the bearish action over the last few days, the Dogecoin market remains away from its 50-day moving average, portraying a bearish outlook for the market.

Indicators

With the price action over the last few days, we see the Doge relative strength index stand below the 50 mark but deflecting towards the upside. With the above, the RSI on the 12th, 13th, and 14th of March stands at 35, 33, and 36.
In correlation to the RSI, we see the MACD deflect away from the zero line, which places the bears as the dominant force in the market.

Swap to DOGE

Correlations

  • Bitcoin / Ethereum = 0.92
  • Bitcoin / Ripple = 0.78
  • Bitcoin / Litecoin = 0.88
  • Bitcoin / Bitcoin cash = 0.92
  • Bitcoin / Cardano = 0.87
  • Bitcoin / Dogecoin = 0.8

Keynotes for today

  • Bitcoin at $38,735 per coin.
  • Ethereum at $2,567 per coin.
  • Ripple at $0.746 per coin.
  • Litecoin at $101 per coin.
  • Bitcoin Cash at $283 per coin.
  • Cardano at $0.827 per coin.
  • Dogecoin at $0.121 per coin.
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