Bitcoin Cash Price Analysis (BCH/USD)
In the last 24hrs, Bitcoin cash has maintained a bearish run. The same trend is most likely to continue since the 21 day MA is actively trading above the 7 day MA. BCH/USD pair corrected losses yesterday to trade below the critical resistance level at $322.0. Additionally, the bearish pressure has defined the support level near $312.2.
The price was later on fluctuated further down to consolidate below $304.3. Apparently, BCH/USD pair escalated from $321.4 to currently changing hands at $303.9 that translate to a minimal dip of 5.4% over the intraday.
In addition, the RSI indicator (X) that moved from a high of 50 to the oversold zone also reflected the downward move. The bearish move also signaled a reduction in the investor’s sentiments that resulted in an increase in sellouts over the last 24hrs.
Bitcoin Cash Price Prediction (BCH/USD)
At the moment, all the technical indicators point at the fact that the incoming trend is bearish since they are both trading southwards. A break below $300.0 may promote a further downtrend. However, a break above $308.0 may trigger an upward rally.
Bitcoin Price Analysis (BTC/USD)
Like BCH, BTC/USD pair failed to break above the critical resistance level at $11000.0. BTC has massively declined from the closing point yesterday at $10695.49 to the current price of $10139.81. The market fist exhibited a medium-term period of consolidation between $10837.41 and $10596.78 level before a downside correction.
A breakout was later seen starting from 23:00 that fluctuated the price momentum down near $10139.81 that also confirmed an increase in selling pressure. The downside price move was signaled by the 21 day MA that crossed above the 7 day MA and the RSI indicator that moved from a high of level 60 to now trading below the negative zone. That is marked as the oversold market territory.
Bitcoin Price Prediction (BTC/USD)
If the price fails to maintain its position above the $10150 level, it might revisit the $9400 swing low. Notably, the dip was signaled by the moving averages that are both trading south ways. Conversely, if there is an upward correction, then a break above the $10596.78 is likely.
Ethereum Price Analysis (ETH/USD)
ETH/USD pair has also exhibited a strong bearish outlook that was indicated by the 21 day MA that hovered above the 7 day MA throughout the intraday. ETH price tested the key resistance level at $198.84 before a downside correction.
The dip has brought the current price at $187.76 that is slightly above the current support level $186.00. The RSI indicator is also below the oversold market territory that signaled a strong increase in selling pressure. This also shows that sellers are in control. However, the RSI indicator is currently pointing north that reflects a slight increase in investor’s sentiments.
Ethereum Price Prediction (ETH/USD)
If there is a bearish break below $185.0, a further decline towards $170.0 is likely. Conversely, if investor’s sentiments highly increase then an upside correction near $200.0 resistance will be anticipated.
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