Bitcoin It was trading at $ 11,416, at press time, and had a 59% dominant share of the market. Your coin fork Bitcoin cash exhibited a bullish signal as it traded just under a important level a $ 252. NO, on the other hand, nullified a bullish pattern at the behest of constant selling pressure on the charts. Popular privacy coin Zcash it was in a strong downtrend, however it could retest a resistance level, before further losses.
Bitcoin Cash (BCH)
Bitcoin Cash exhibited hidden bullish divergence as its price hit a higher low, while the momentum indicator (RSI) made a lower minimum (orange).
Hidden divergences usually indicate the continuation of the previous trend. The trend has been bullish for BCH for the past few weeks, and this could cause BCH to move towards its resistance at $ 265.
However, the RSI was still below 50 and a retest of $ 244 before a move north could take place soon.
The price of the cryptocurrency formed an ascending triangle (orange), a pattern that usually causes the price to break higher.
However, throughout the time that XEM traded within the pattern, the OBV had a downward trend (white), showing that the purchase volume was decreasing.
The price closed below the rising trend line, a sign that the pattern had failed and a downside breakout was likely to occur. XEM lost 10% in a dip to $ 0.109, before bouncing to test resistance at $ 0.116.
Zcash briefly broke its resistance at $ 72.7, before facing a wave of selling pressure. ZEC crawled below its resistance and also fell below the support level at $ 63.
At the time of writing, ZEC appeared to retest the endurance. It was possible that the price could regain the $ 66 level, but the last few sessions had trading volumes well below average.
This suggested that the rise near $ 60 was not a bullish indication. ZEC can be expected to move towards the next support level at $ 56 for the next few days.
the Directional Movement Index (DMI) also pointed to a strong downtrend as ADX (yellow) was above 20 while -DI (pink) indicated the direction.
This is a machine translation of our English version.
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