Bitcoin has been forming a formidable base and now is looking to test the top of the consolidation for the 3rd time. The market has been continuously making higher lows and higher highs on the hourly timeframe but each time it gets to 7K the price meets resistance. The price is also above the 55 and 200 moving averages. This is considered a bullish sign and the RSI indicator is also positive above the 50 mid-line.
Ethereum price is trading in the red by 3.30% in the session on Wednesday.
ETH/USD is losing ground with price still in consolidation mode, with range breakout nearing.
Bearish flag at risk of a breach to the downside as the price narrows.
Litecoin price is trading in negative territory by 3.10% in the session on Wednesday.
LTC/USD bulls giving up ground after two straight days in the green.
A critical range breakout is nearing, but the price could still very much go either way.