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Analysis

Bitcoin Cash [BCH/USD] Technical Analysis: The Grizzly-show is yet to end

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Bitcoin Cash [BCH/USD] Technical Analysis: The Grizzly-show has yet to end
Source: Unsplash

Bitcoin Cash has been mutilated by the hard fork that took place on November 15. However, exchanges like Coinbase have already accepted the ABC implementation as the winner and assigned it the ticker of Bitcoin Cash.

The current price of Bitcoin Cash is at $222.4 and the market cap is hovering around $3.87 billion. The 24-hour trade volume as seen on Coinmarketcap at the time of writing is $63.34 million, of which 23.39% of the total trade volume is contributed by Binance with trade pairs BCH/USDT and BCH/BTC.

1 Hour

Source: Trading View

Bitcoin Cash has suffered due to the hard fork and has no uptrend as a result. The downtrend for Bitcoin Cash extends from $431.7 to $235.5. The prices have dipped recently on November 20 and broke previous supports and the prices are currently being supported at $225.1. The resistance for Bitcoin Cash has been set at $280 and $368.8.

The MACD line has crossed the signal line to the bottom in a bearish crossover. The histogram for MACD has red bars hanging from the zero line.

The Stochastic lines have struck the oversold zone in a bearish crossover.

The Chaikin Money Flow indicates that money flowing out of the market is more than the money flowing into the market as the CMF line has crossed below the zero line.

1 Day

Source: Trading View

The downtrend ranges from $1295.6 to $253.2 while there doesn’t seem to be an uptrend in the bearish scenario. The resistance is set up at $651.8, $907 and $1169.2.

The Aroon indicator shows a downtrend in progression as the Aroon downline has hit the 100 line. The Aroon downline has struck the bottom, indicating that the uptrend has been extinguished.

The Relative Strenght Index shows an oversold market as it has breached the 30 line.



Conclusion

The one-hour chart shows an overall bearish trend as indicated by CMF, MACD and Stochasatic . The indicators in the one-day show a bearish trend that has overtaken the crypto-verse.





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

Analysis

XRP vs Stellar Lumens [XLM] Price Analysis: Bears stall coins’ bullish momentum

Yash Rajan

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XRP vs Stellar Lumen [XLM] Price Analysis: XRP and XLM bulls stalwart bears
Source: Pixabay

Ripple’s XRP saw a huge amount of capital being transferred yesterday and was ranked third on CoinMarketCap, with a market cap of $16.258 billion, at press time. According to CoinMarketCap, XRP was priced at $0.386 and had a 24 hour trading volume of $1.664 billion. It surged by 4.07% over 24 hours.

Stellar Lumens [XLM] stood ninth on the top-10 cryptocurrencies with a market cap of $2.438 billion. XLM was priced at $0.126 with a 24 hour trading volume of $474.116 million. XLM rose by 3.96% over the past 24 hours.

1-Day XRP

Resistance lines stood at $0.458 and $0.402 and supports were at $0.311 and $0.285. XRP saw an uptrend over the course of six months from $0.364 to $0.459. XRP also drew a downtrend over the past two weeks from $0.457 to $0.391.

Source: TradingView

Source: TradingView

Parabolic SAR markers were above the candles and indicated a bearish environment for the coin.

Moving Average Convergence/Divergence [MACD] indicator suggested an imminent bearish crossover

Relative Strength Index indicator showed that the buying and selling pressures had evened each other out

1-Day XLM

Stellar Lumens [XLM] saw an uptrend from $0.126 to $0.142. Resistance lines stood at $0.143 and $0.127 and support lines stood at $0.741 and $0.115.

Source: TradingView

Source: TradingView

Bollinger Bands pointed towards increment in volatility.

Awesome Oscillator indicator presented a bullish buying opportunity. However, bearish pressure was seen over the last few histogram bars.

Chaikin Money Flow indicator showed that the money flowing into the market was greater than the money flowing out of the market.



Conclusion

Both XRP and XLM seemed to have stalled in the face of bearish pressure, after posting some bullish gains.





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