In 2017, anything related to Blockchain and cryptocurrency was hot property; in 2018, anything linked with blockchain is having a difficult time.

Last year, about 170 hedge funds began trading; in 2018 only 20 new funds have started operations so far. Additionally, chances are 10 percent of the existing funds will close operations this year, due to regulatory uncertainty and market conditions.

Even the stock market had joined the frenzy last year when stocks of companies, joining the Blockchain craze, saw their price skyrocket. This year has been the exact opposite, with most of those stocks plunging.

Last year was a race to forecast the higher targets on Bitcoin. There were all kinds of outrageous targets and various justifications for the same. Now, it’s time to give targets on the downside.

A group of Zurich-based researchers has built a model using the Metcalfe’s law, which shows that Bitcoin’s support is in the market capitalization range of $22 to $44 billion, way lower than the current market cap of $118 billion.

As the prices fall, the news and sentiment will get even more bearish. Tops are formed after a buying mania, similarly, bottoms are formed after panic selling. So, let’s keep our buy list ready and start investing when the charts confirm that a bottom is in place.

BTC/USD

In a strong downtrend, the pullbacks only last between 1-3 days. So, after two days of closing in the green, Bitcoin turned down from the $7,711.74 levels.

Right now, costs are citing simply over the $7,000 stamp, which is an imperative help. On the off chance that this level separates, a tumble to the April 01 lows of $6,757.26 and after that to the February 06 lows of $6,075.04 is conceivable.

We’ll see the first signs of bullishness when the BTC/USD pair breaks out and sustains above the descending channel. We shall look to buy only if the price sustains above $8,000 levels.

ETH/USD

Ethereum shut over the downtrend line on April 03 yet couldn't maintain the breakout. Today, April 04, it has surrendered every one of the additions and is undermining to break underneath the April 01 lows of $358.

If the bears succeed in breaking down the supports, the ETH/USD pair can slide to $300.

The weak pullback after such an extensive decline from $870 on March 05 to $358 on April 01 shows a lack of demand.

The computerized cash remains immovably in a downtrend with both the 20-day EMA and the 50-day SMA falling. We will sit tight for the pattern to switch from down to up before recommending any long positions.

BCH/USD

We had anticipated Bitcoin Cash to pull back to the 20-day EMA, but the rally fizzled at $741.6764 on April 03.

The BCH/USD combine is attempting to discover purchasers even at these low levels. In the event that costs break underneath the April 01 lows of $653, there may be a decay to $600 and $558.

We shall wait for the digital currency to change its trend before recommending any trades on it.

XRP/USD

The recuperation in Ripple couldn't reach out over the overhead protection of $0.56270, which is a bearish sign. Presently, if the value separates of the April 01 lows of $0.45351, the downtrend will continue.

There is no real help until the point when the cost comes to $0.22 levels, that is the reason it is hard to anticipate where the purchasers will advance in. The XRP/USD combine will hint at recuperation on the off chance that it mobilizes and manages above $0.57 levels for three days.

We aren’t buying during a falling market.

XLM/USD

Stellar keeps on exchanging inside the plunging channel. It neglected to break out of the 20-day EMA on April 03. $0.18 is the basic help on the drawback, beneath which, the fall may stretch out to $0.16.

The main bullish improvement on the diagram is the positive dissimilarity on the RSI, yet until the point when the cost affirms a turnaround, we aren't recommending any long positions.

We sit tight for the XLM/USD match to break out of the protection line of the slipping channel before starting any positions.

LTC/USD

Litecoin bobbed near the trendline where it confronted offering, as we had foreseen. As of now, costs have given back every one of the increases of April 03.

On the off chance that the bulls neglect to protect the basic help zone of $114.706 to $107.102, the LTC/USD match can slide to the following lower level of $84.708.

We shall wait for a bottom formation before suggesting any trade on it.

ADA/BTC

Cardano has been trading inside a range for the past few days. We expect the range bound action to continue until the overall sentiment changes from bearish to bullish.

On the off chance that the ADA/BTC combine breaks out of the range, we suspect the beginning of another uptrend. Be that as it may, we need to enter a long position simply after the cost maintains the breakout for over three days.

In this way, the proposal gave in the past investigation is never again reasonable. We should sit tight for the breakout to support and afterward recommend a purchase. We would prefer not to get captured in a bull trap.

NEO/USD

NEO endeavored a pullback on April 03, however it couldn't achieve the 20-day EMA. It diverted down from $54.31 levels, which demonstrates that the bears are still in order. On the off chance that the value breaks underneath the April 01 lows of $44.84, we can anticipate that a slide will the following lower support of $31.15.

On the off chance that the $44.84 level holds, the bulls will again endeavor to pull back to the 20-day EMA. To begin with indications of soundness will be seen after the NEO/USD match maintains over the $65 levels.

We still don’t have a confirmation of a bottom; hence, it is best to wait for now.

EOS/USD

EOS keeps on exchanging inside the plunging channel. It is as of now confronting protection at the 20-day EMA, which is situated close to the protection line of the channel.

On the off chance that the bulls prevail with regards to breaking out of the overhead protection, we suspect another significant protection at the 50-day SMA.

The EOS/USD combine will end up positive simply after it breaks out of $7.25 levels. We hold our current purchase proposal at $7.5 with a stop loss of $5 and an objective goal of $11.

If prices break below $5, a slide to $4 is possible.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.