Bitcoin and Ethereum’s price action impacted most altcoins positively. Some altcoins, however, showed consolidation despite broader market gains. Filecoin, for instance, gained minorly and observed range-bound movement between $75.17 and $70.01 price levels. Bitcoin Cash gained 3.5% and could test the $672.68 price ceiling while TRON presented a buy signal after gaining by 3.3%.
Bitcoin Cash (BCH)
BCH/USD, TradingView
BCH was trading at $636.56, after a 3.5% gain over the last 24 hours. The altcoin’s recovery was reflected in the bullish outlook of the technical indicators. With continued movement on the upside, BCH could test the $672.68 and the $705.02 price ceiling.
Buying pressure revived as the Relative Strength Index rose slightly above half-line. MACD observed green bars on its histogram and correspondingly Awesome Oscillator displayed green signal bars.
In case of a southward movement, BCH could break below $623.37. The next support line is at $579.32.
TRON (TRX)
TRX/USD, TradingView
TRON gained 3.3% over the last 24 hours and was trading at $0.0871. The immediate resistance level for the coin lay at $0.0888. Upon toppling the same, TRX could retest the $0.0958 price ceiling.
Awesome Oscillator displayed green bars, and a buy signal. Correspondingly, the Relative Strength Index noted an uptick and stood above the half-line.
In contrast, capital inflows remained low as Chaikin Money Flow remained below the mid-line. On the flip side, the coin could find support on the $0.0816 and the $0.0707 levels respectively.
Filecoin (FIL)
FIL/USD, TradingView
Filecoin flashed a 2.4% gain since yesterday and was priced at $73.67. The altcoin showed signs of consolidation as the coin oscillated between $75.17 and $70.01 levels respectively. Bollinger Bands depicted constriction, affirming the aforementioned statement.
Buying pressure dipped and the Relative Strength Index fell below the midline. Awesome Oscillator flashed a red signal bar as bullish momentum was halted.
The immediate support level for Filecoin stood at $70.01 and then at $62.79. If it breaks its consolidation on the upside, it could witness resistance at $75.17 and then at $80.89.
