While 2017 was a raging bull market in cryptocurrencies, 2018 turned out to be a massive bear market that wiped out more than $720 billion in total crypto market capitalization.
As the market matures, it will carve out a niche for itself.
ETH/USDAfter surrendering its position as the top altcoin to Ripple a few weeks ago, Ethereum is attempting a comeback.
BitMEX CEO Arthur Hayes believes that the dead ICO market will spring back into action next year and will prove to be positive for Ethereum.
ETC/USDEthereum Classic turned out to be the second-best performer among the top cryptocurrencies.
If the bulls fail to break out, the cryptocurrency can again slide back to the recent low of $3.3.
Currently, the bulls are attempting to stall the pullback at the 20-day EMA.If successful, the cryptocurrency will again attempt to move toward the overhead resistance of $1.91493444.
Contrary to our expectation, if the bulls break out of $0.4037, it will indicate that the markets have rejected the lower levels.
The long-term investors should wait for the price to break out of the channel before attempting a trade in it.
Disclaimer: Stratis is a featured cryptocurrency from one of Cointelegraph's sponsors, and its inclusion did not affect this price analysis.
Top Crypto Performers Overview: Ethereum, Ethereum Classic, NEO, IOTA, Binance Coin, Stratis
Published on Dec 30, 2018
by Cointele | Published on Coinage
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