Altcoins retreated from their recent rallies, but it looks like these could be opportunities for more bulls to join in.
BTC is still holding on to the top spot with the smallest loss of 4.60%, followed by BCH at -5.22%.
XRP is far behind the pack with a 9.13% loss.
Check out this ranking of bitcoin and its buddies for the past seven days:
Cryptocurrencies Price Performance from MarketMilk
BTC/USD: 4-hour
Bitcoin
The 100 SMA is still above the 200 SMA, and the gap between the indicators is widening to reflect strengthening bullish momentum. Stochastic already turned higher without reaching the oversold region, hinting that bulls are eager to return.
ETH/USD: 4-hour
Ethereum
The 61.8% Fib is right smack in line with the 200 SMA dynamic resistance while the 50% level is closer to the 100 SMA at the mid-channel area of interest.
Bears could be taking charge right now as stochastic is already heading south while price hits a ceiling at the 38.2% Fib. In that case, a move back to the swing low or the channel bottom might follow.
LTC/USD: 4-hour
Litecoin
Stochastic is already heading south, so LTC could follow suit as bearish pressure is in play. Also, the 100 SMA is below the 200 SMA to confirm that the selloff is likely to pick up.
XRP/USD: 1-hour
XRP
The 100 SMA is safely below the 200 SMA to confirm that resistance is more likely to hold than to break, and stochastic is heading lower to reflect bearish pressure. In that case, XRP could fall back to the swing low again!
Just be warned, there is a considerable amount of risk in trading cryptocurrencies due to their inherent volatility and sensitivity to headlines. Be careful out there!