The sentiment remains bearish in the crypto market, as they keep making lower highs for the last three months. After every bearish period, there is a pause, which is followed by another bearish period. After last week’s decline, the market is pausing now, but judging from price action, there’s not much buying pressure, since cryptocurrencies can’t put up a decent fight.

Bitcoin (BTC) and Ethereum (ETH) have stalled now after trying to make some gains in the last few days. Ripple and Cardano have been even more bearish than the market average, but they are trading above some important support zones, so let’s see what they look like right now.

Ripple Weekly Chart – The 100 SMA Turns Into Support for XRP

Ripple is oversold on the weekly timeframe

Ripple coin has been lagging behind the crypto market average and the weekly chart shows that. While most major cryptocurrencies climbed above 2017-18 highs in May last year and continued to make new highs in the second half of the year, XRP continues to make lower highs.

The lawsuit from the SEC (Securities and Exchange Commission) has been keeping the sentiment bearish for this crypto coin, making it fall behind other coins in market capitalization during this time, as XRP used to hold 3rd place 2 years ago.

Ripple Coin XRP Live Chart

Although, the 100 SMA (green) is holding as support on the weekly chart and there are some promising developments in the SEC lawsuit, giving investors hope for a victory in the company’s favor.  Judge Sarah Netburn ruled last week for the SEC to surrender emails from Hinman who doesn’t consider Ethereum as a security, so the same logic should apply to Ripple.

If Ripple wins this case, it will be a major win for the market and will send Ripple surging, but for now, the sentiment remains bearish so we have to follow the price action and probably buy XRP/USD closer to $0.50 if the retreat continues. Meanwhile, Ripple Labs is buying back clas C of its own shares which indicates that the company is positive about the lawsuit.

Cardano Weekly Chart – ADA Facing the Support at $1

The support at $1 is being aided by the 100 weekly SMA for Cardano

Cardano has also been bearish since September, losing value while most of the market continued to make gains and new highs until early November. It broke below the 20 SMA (gray) and the 50 SMA (yellow) which now has turned into resistance on the weekly chart, while the 100 SMA (green) has turned into support, together with the major support zone around $1.

The Alonzo upgrade in September made it possible for dApps and smart contracts to be built on the Cardano network, but the first DEX (decentralized exchange0m SundaeSwap hasn’t been without problems, especially in congestion. Besides that, the dispute between SundaeSwap and CardStarter has also been affecting ADA coin negatively, but now that it is being resolved we hope that ADA/USD stops declining. The support at $1 and the 4100 SMA are holding for now, but it will also depend on the market sentiment how things progress from here.

Cardano Coin ADA Live Chart