Bitcoin Cash prices are in a descending triangle formation, and heavy sales may occur with a move below $ 1,280. The bearish channel observed in Ethereum Classic may cause prices to fall further before the rise. Finally, I think Binance Coin, with its cup and handle chart, may indicate an uptrend that may be experienced in the coming days.
Bitcoin Cash [BCH]
The buying pressure experienced in Bitcoin Cash encountered resistance at $ 1,460, and with the effect of this, BCH prices dropped to $ 1,355 at the time of this writing. A descending triangle pattern has been detected on the hourly chart, which generally indicates a downtrend. BCH prices will likely fluctuate between $ 1,280 and $ 1,420. If the $ 1,430 level can be exceeded in an upward move, bullish traders may take over the market, but gains are still likely to be limited.
Starting from 30, the RSI rose to 50. This indicates that there is a balance between buyers and sellers. A drop in the Oversold zone could result in bear investors capturing the $ 1,280 level. If this happens, the support points at the $ 1,202 and $ 1,100 levels will also become evident. The MACD value also shows a divergence for the bear market and remains below the balance mark.
Ethereum Classic [ETC]
A correction for Ethereum Classic has been awaited for some time. According to RSI values, ETC has overbought since May 1, but the possible decline was delayed due to the high buying pressure. However, there may be no space left to postpone. On the hourly chart, ETC formed a bearish channel. Although this actually indicates an upward move, lows may be experienced in the coming days due to the channel.
If the support at $ 93.5 is broken, the likely route will be converted to the 200-day SMA at $ 75. The Awesome Oscillator (AO) value partially indicates momentum for the bull market, but still remains below the midline. On the 4-hour chart, it can be seen that the momentum in ETC is still in favor of the sellers.
Binance Coin [BNB]
On the daily chart, BNB showed an interesting improvement. The graphic in which the glass and handle image is formed may indicate a rise that may occur in the coming days. If there is no development such as a fall below the 600 dollar level, it may be possible for the BNB prices to rise above 700 or even to the level of 778 dollars. BNB prices have risen to 679 today, pretty close to its all-time high price record.
These analyzes are my own comments, they are definitely not investment advice. Any risk binds the investor. I expect your likes and comments about my analysis.
intersted to know your perspective on ETC re: it's high correlation To doge