Currently, the downtrend has resumed and the next support on the downside is the $19–$21 zone. If this also fails to hold, the fall can extend to $15. The has reached oversold levels, last seen in the beginning of 2015.
If the digital currency rebounds from current levels and climbs above $29.349, it will indicate that the markets have rejected lower levels. In such a case, a pullback to $47.246 is probable. However, as the bears have an upper hand, the traders should wait for the trend to reverse before attempting a long position in it.