Bitcoin cash posted significant losses as Bitcoin and most of the market faced another wave of selling pressure. NO, although it noticed a recent rally, it was rejected at a resistance level and showed some downtrend on short-term charts. VeChain It had been making moderate gains for the past two days but was stopped in its tracks by strong resistance and a subsequent wave of market-wide selling pressure could depress prices further.
Bitcoin Cash (BCH)
Bitcoin Cash fell below its support level at $ 218 when BTC fell from $ 10,950 to $ 10,650. BCH is likely to continue to make losses as the strong zone around $ 220 was lost as support. Therefore, BCH is likely to test $ 200 in the next few days.
the Aroon indicator has shown mixed signals in recent weeks, highlighting the lack of a definite trend. However, at the time of writing, the Aroon Down (blue) had crossed above the Aroon Up (orange) to indicate that a bearish move was imminent.
The 20 SMA (white) had crossed below the 50 SMA (yellow) last week, highlighting the onset of bearish pressure. The 50 SMA acted as resistance against XEM recent increase, but resistance from both the moving averages and the zone at $ 0.116 remained strong.
the Parabolic SAR he also gave a sell signal. If XEM were to close a trading session below $ 0.108, it would be an indication of probable lower lows in the coming days, with the next level of support at the $ 0.095 level.
VeChain was doing bullish steps towards its resistance at $ 0.0158, but was rejected at the level. Price action has since experienced some indecision as buyers tried to push the price higher, but were met with strong bearish sentiment. the OBV and the price fell down, at the time of publication.
the Awesome oscillator, having sailed up for the past few days, lost its momentum and was able to cross into bearish territory.
It is possible for VET to stop its decline in the region of $ 0.0125- $ 0.013. A dip below that zone would likely push the price to support at $ 0.011.
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