Ethereum, XRP, and Litecoin Could See Further Decline

Last week, the market began to overheat as greed took hold. Ethereum, XRP, and Litecoin saw losses in the subsequent sell-off. Indicators show further declines.

Ether Prepares for Further Drop

Ethereum saw its price skyrocket over 145% in the last two months. This cryptocurrency went from trading at a low of $117 in mid-December 2019 to a recent high of $287. During its run up, Ether encountered a small correction of 12% in mid-January.

This retracement served as an opportunity for sidelined investors to get back into the market, later pushing its price higher. Now, it seems like market participants could be given another chance to buy ETH at a lower price.

The TD sequential indicator is currently presenting a sell signal in the form of a green nine candlestick on ETH’s 3-day chart. This bearish formation estimates a one to four candlesticks correction before the continuation of the bullish trend. A red two candlestick trading below a preceding red one candle could validate the sell…