Over $28 billion flooded the cryptocurrency market in the last 24 hours.
Despite the massive inflow of capital that pushed the entire market up, a technical indicator estimates that Ethereum, Litecoin, and EOS could soon retrace before continuing their bullish trends.
As investors re-enter the market, the new capital inflow could push these cryptocurrencies into higher highs.
If the bearish signal presented by the TD sequential indicator is confirmed, then Ethereum could plunge to look for support around the 23.6 percent or the 38.2 percent Fibonacci retracement level.
According to Willy Woo, Litecoin could be leading the recent run-up in the cryptocurrency market.
Although LTC's price action cannot be considered definitive proof of where the market is going, it could provide guidance about the future market valuation.
EOS. EOS skyrocketed over 30 percent in the past 24 hours.
The cryptocurrency market appears to have entered into a fear of missing out stage.
The rapid increase in buying orders pushed the total market capitalization up over 12.50 percent in the last 24 hours.
Now, the TD sequential indicator is presenting a sell signal across multiple cryptocurrencies including Ethereum, Litecoin, and EOS. It remains to be seen whether the bearish formation will be validated.
These altcoins could soon pullback before continuing bullish trend
Published on Jan 14, 2020
by Cryptoslate | Published on Coinage
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