Having been oversold for a while, Bitcoin continues moving in a direction majorly for long term traders and hope will be restored soon for some profit. Bitcoin went down last week to $6000 from a previous resistance level of $8,300. Since then, it has held on to a strong support level and might increase its value only for a short while. Its next resistance might be $6,800. However, this is dependent on the number of buyers to go long, if not, it continues shorting.
For Ripple, the next major resistance might be 0.4140 but since its ranging now, so it seems indecisive. The major reason for a buy is because it has been oversold for the past weeks just like bitcoin.
For Ethereum, it has been oversold at $278 to 1 Ethereum for 2 weeks. The next major resistance might be $395. This could also be a swing for a continuous downtrend.
Indications showing for the next few weeks: The more buyers, the higher the price of crypto currencies and new resistance levels will develop. For now, it is ranging and it’s not too good to enter trades in a ranging market.