Connect with us
Active Currencies 14899
Market Cap $2,574,409,324,722.90
Bitcoin Share 51.65%
24h Market Cap Change $1.13

Bitcoin Cash, BAT, Compound Price Analysis: 16 March

3min Read

Share this article

After a brief 24-36 hour period that saw Bitcoin drop by over 10% on the price charts, the world’s largest cryptocurrency was in recovery mode at press time with a trading price of over $55,000. The effects of its efforts to reverse recent losses weren’t uniform across the altcoin market, however, with the likes of Bitcoin Cash, Basic Attention Token, and Compound all struggling to post gains.

Bitcoin Cash [BCH]

Source: BCH/USD on TradingView

Bitcoin Cash, the popular fork of the world’s largest cryptocurrency, has seen a lot of topsy-turvy movement over the past few weeks, with the latest depreciation in price just another in a series of such movements. At press time, however, while many alts in the market were taking the first steps towards recovery, BCH was struggling to do so, with the crypto recording barely any gains of note.

The ensuing bearishness was underlined by the crypto’s technical indicators as while the Parabolic SAR’s dotted markers were well above the price candles, the Chaikin Money Flow continued to fall towards zero, a sign of capital outflows gaining strength.

While BCH not climbing to the tune of Bitcoin’s performance is odd, the alt can be expected to fall even further if BTC drops again.

Bitcoin Cash was in the news recently after Switzerland’s 21shares revealed that it will be listing BCH-based ETPs on Deutsche Boerse’s Xetra.

Basic Attention Token [BAT]

Source: BAT/USD on TradingView

BAT, Brave browser’s native token, like BCH, has seen a lot of inconsistent movement lately, with the crypto noting a series of higher highs followed by sharp downtrends. Such has been the case over the past few days too, with the BTC-fueled depreciation pulling the altcoin further down the price charts. BAT, for its part, dropped by over 9% in a 48-hour period.

Like BCH, BAT was yet to fully recover its losses, with the alt holding its position despite being susceptible to more volatile price movements.

BAT’s Bollinger Bands, for instance, were widening slightly to project the likelihood of some volatility in the near-term. On the contrary, the Awesome Oscillator pictured the formation of a green candle on the histogram, one underlining the bullish efforts at recovery.

Compound [COMP]

Source: COMP/USD on TradingView

Contrary to the likes of Bitcoin Cash and BAT, some efforts at recovery were earnestly afoot on Compound’s price charts, with the last few price candles flashing a few green signals which suggested that COMP might take BTC’s lead after all. Such a recovery would come at a good time for the altcoin, especially since it would come on the back of an 8.3% depreciation on the charts.

It seemed to be more of a touch-and-go situation when COMP’s technical indicators were taken into consideration, however. While the MACD line was closely intertwined with the Signal line, the Relative Strength Index was above the 40-mark despite pointing south.

Compound was in the news recently after it announced cross-chain borrowing via the development of Gateway.


Jibin Mathew George is Editor-in-Chief at AMBCrypto. A domain expert in International Relations (European Politics), he has always been a believer in the unlimited possibilities afforded by blockchain and by extension, cryptocurrencies. As someone who has been watching and writing about this space for over 5 years now, Jibin has closely tracked the emergence of cryptos and digital assets as a separate asset class in portfolios world over. A lawyer by training, he previously contributed to the News and Research desk of Diplomacy & Beyond Plus. Before his stint at D&B, he was Editor at ED Times. Jibin also takes a great interest in politics, especially the corresponding effect political decisions and fiscal policy have on the world of finance, with a special focus on cryptocurrencies.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.