Total market capitalization is up 6% in the past 24 hours on positive market signals and news. Ethereum Classic has received a new Mantis update, LocalBitcoins recently added support for Bitcoin Cash payments, and Grayscale Investments Holdings recently bought 5131 Litecoin. Despite this, the coins rose slightly over the day.
Bitcoin Cash [ BCH ] : –
Bitcoin Cash continued to perform poorly for the second week. The coin has repeatedly tested the $ 605 support level since May 28, and the June 7 drop has paid off. BCH fell below its support line for a good 36 hours before rallying again on June 9. Parabolic SAR showed an active uptrend as the white dotted lines remained below the candlesticks, the coin was dangerously close to falling again, trading at $ 613 in red.
Climb Average Direction Index (ADX) pointed out a slight increase in prices 24 hours ago. At the time of publication, this indicator was less directional, which could be a bad sign of an active trend – an uptrend at the moment. Bullish crossover seen on MACD The indicator can help prevent a sharp drop in price as the indicator line is above the signal line.
As the coin broke through the active support level, the next one was set at $ 503.
Ethereum Classic [ ETC ]: –
Over the past 15 days, ETC has lost about 27.6% of its price and is trading at $ 59.8. The drop created a temporary lower resistance at $ 71. IN Simple moving averages have not been coin-friendly since early June. Lines – 50 SMA (orange) as well as 100 SMA (red) both remained strong bearish in the 4-hour chart.
Awesome oscillator showed bearish momentum from June 8-9, but during the press conference, the indicator could be seen bullish momentum. Capital inflows were moderately strong as they brought the Chaikin money flow indicator back to neutral. However, capital outflows have been slightly higher in the past few hours, keeping the indicator below the neutral line.
As of press release, price action appeared to be dormant, but ETC will need stronger positive signals to overcome the $ 71 mark.
Litecoin [ LTC ] : –
Litecoin fell 13.2% earlier this week, but a strong recovery has pushed the coin back to $ 168.8 at the time of writing. $ 185.5 continued to act as a resistance level for the LTC. Despite Squeeze Momentum Indicator showing active squeeze (presence of white dots), bearish pressure may decrease in the last 24 hours.
After entering the oversold zone on June 8, strong buying pressure helped Relative Strength Index (RSI) return to 50. However, at time of writing, the violet indicator has moved slightly towards the neutral line.
Despite the fact that they diverge, Bollinger Bands moved parallel to each other during printing. In the absence of clear signs of volatility, it is safe to consider the possibility of a sideways movement of a forward coin.
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