Bitcoin, Ethereum, Ripple Prices Turn Higher | Webinar
Bitcoin, Bitcoin Cash, Ethereum, Ripple: Prices, Charts and Analysis
- Cryptocurrencies turn higher from multi-month lows.
- Oversold conditions may push some coins higher.
Cryptocurrency Market Picks-Up in The Short-Term
After registering heavy double-digit losses at the weekend and the start of the week, the cryptocurrency market has regained some poise but is still left near multi-month lows. Some coins remain in oversold territory which may help them move higher but heavy selling in other coins is a cause for concern, especially as they are trading below levels that they originally opened up at in 2017.
An arguement can be made that the markets may have just made their low prints for 2018 but caution is still warranted especially over weekend trading hours when volume usually drops and prices can move sharply.
Bitcoin Daily Price Chart (May – November 28, 2018)
Investors remain net-long cryptocurrencies but recent changes give us a mixed trading bias – for example the number of traders net-short Bitcoin is up from last week.
Cryptocurrency Trader Resources
What’s your opinion on the latest cryptocurrency sell-off? Share your thoughts and ideas with us using the comments section at the end of the article or you can contact me on Twitter @nickcawley1 or via email at email@example.com.
--- Written by Nick Cawley, Analyst.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.