Bitcoin bulls have been through some pain recently but I am here to tell you its not all bad news.
The daily chart is showing some signs that the downward momentum may be slowing down.
The relative strength index (RSI) indicator is making higher low waves while the price made a few lower lows. This is called bullish divergence and can sometimes indicate a change in trend.
Ripple’s XRP price is holding gains of 4.85%, as the bulls return following two straight sessions of losses. XRP/USD is trading at the highest levels in almost 4 weeks, with the buyers attempting to regain control.
XRP/USD price action since the back-end of September has been trending to the upside, ever-so gradually. It came following a big beating from the bears, which was seen between 19 – 24 September.
Litecoin price is trading in the green in the session by some 3.60%.
LTC/USD remains very much vulnerable to downside risks as it sits below the breached bear flag.
Should the daily press for a breakout and closure below $50, another wave of selling pressure may follow.