Almost all the top cryptocurrencies - Bitcoin, Ethereum, Ripple, EOS - contributed to the market collapse. Although the price of Bitcoin fell only 6% against the US dollar, EOS, Bitcoin Cash, Litecoin, Monero, Ethereum, and Ripple suffered much larger losses. Among all the altcoins, Stellar stands out in the top 10 cryptocurrencies, which managed to lose only 6% in the bear market.
At the time of publication of this article, the price decline for Bitcoin Cash and EOS was 16% over the last 24 hours. The price of Bitcoin Cash, which was showing all the signs of a bullish run towards $648, has decreased by 19.5% in the last two hours and is now at $507.
EOS is also not far behind - despite reaching a price of $6.68 this week, the price of EOS/USD has fallen by about 16.5% in the last 24 hours.
The price of Ethereum is also down by about 20% in 24 hours. The ETH/USD pair showed strong growth towards the $300 mark all week, but due to bearish pressure over the past 24 hours, its price fell to $228.
Bitcoin Diamond, one of the hard forks of Bitcoin, seems to be the only cryptocurrency that is coping with the consequences of the negative trend. The price of BCD/USD increased by more than 240%, presumably due to manipulative pumping. However, the correction reduced its price by almost half.
Another currency whose price shows resistance to the bearish trend is Dropil. This coin, which is backed by an independent cryptocurrency tools platform, has gained more than 15% in the last 24 hours. The price of DROP/USD rose from the daily low of $0.0034 to $0.0044.
At the same time, Bitcoin is experiencing an impressive correction. A potential pullback could occur near $6,832, but this would not guarantee a long bull run as a result.
You May Also Like
Market overview of the main cryptocurrency pairs for the current week (from 11/12/2018 to 11/18/2018)
In today's review, as always, we summarize the results of the outgoing week and analyze the overall price dynamics
Analysis of TRX and ADA as of November 16, 2018
Cardano price fell significantly and was trading below the support levels at $0.0700 and $0.065. The bearish run of ADA/USD to the 1.5 mark continues. Over the past week, the price of TRX fell by 17%.
