Bitcoin Cash was expecting a rise above $ 645 to kick off the rally, but had to withstand selling pressure first. MATIC has provided key revision levels to trigger a 30% jump on the charts. Finally, Filecoin is likely to stay above $ 65 in the coming sessions.
Bitcoin Cash [BCH]
An important area to recover for the Bitcoin Cash bulls lay just above its top resistance at $ 645. The ceiling coincided with 50-SMA (yellow) BCH on the 4-hour chart and 200-SMA (green) on the hourly chart. Interesting that SuperTrend indicator placed a stop loss in this area and would switch to buy / sell in the event of a breakout.
However, momentum was bearish neutral, according to data Awesome Oscillator and a breakthrough did not seem inevitable yet, especially since the trading volumes on the exchanges were low. In the event of another fall, support at $ 460 is likely to counter any threat of further sell-off.
The critical MATIC area was just above the $ 1.51 resistance. This area marks a confluence between the 50-SMA (yellow), 200-SMA (green), and the upper trendline of its descending triangle. According to the model, MATIC was expected to meet selling pressure at $ 1.46, but a move above the aforementioned levels could open the door for a 30% price increase. This will bring MATIC back to the $ 2 mark.
Conversely, a break below the lower trendline could increase the loss to $ 0.96. The market saw a bearish momentum. Awesome oscillator and the bulls need to protect the lower trendline from the breakout. An ADX a reading of 38 indicates that the strong trend has played a role in the sharper price movements.
Since Bitcoin’s rollback to $ 32,000 on June 7, Filecoin has been under pumping. The FIL price broke two support lines – one at $ 85 and the other at $ 74. Despite the fact that the royal coin managed to recover some levels the very next day, buyers were in no hurry to return to the FIL market. On the other hand, the cryptocurrency remained fairly balanced between buyers and sellers at the time of publication, and the threat of a new breakdown seemed unlikely.
IN MACD the line was superimposed on the signal line, but it was below equilibrium. Volatility also declined due to the limited nature Bollinger Bands…
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