So far, it’s been a mixed day for the altcoin market. Bitcoin Cash has just depreciated and traded near its immediate support line of $ 672.21, while COSMOS has recorded an impressive 18% gain in the past 24 hours, marking a multi-month high. ZCash appreciated 4.1% and prepared to break the immediate resistance bar of $ 160.89.
Bitcoin Cash (BCH)
Bitcoin Cash has noted a slight drop over the past 24 hours and was available for $ 687.21. The altcoin was trading near its support line of $ 672.21. Trading near the aforementioned support level for longer than a few more sessions could cause prices to stay below that level, at the $ 623.37 support line.
Awesome oscillator Red signal bars displayed, indicating a bearish price movement in the market. Consequently, MACD also noted a receding of the green bars on the histogram.
On the other hand, the relative strength index noted increased buying force as it stood near the 60 mark. In the event that BCH moves higher than current prices, it may again face resistance at $ 705.20 for the second time in a week.
Cosmos has climbed 18%, trading at $ 22.69, at the time of publication. It had reached this price point for the last time on May 16. The uptrend, if sustained, could push the alt to touch the $ 23.44 resistance bar for the second time in 48 hours.
MACD remained bullish noting green bars on its histogram. relative strength index was at the 70 mark as represented inside overbought territory a few trading sessions ago.
A chance of a price reversal cannot be ruled out, in which case ATOM would end up on the $ 21.50 and $ 18.00 support line. Bollinger bands diverged, implying that the chances of market volatility could increase over the next few trading sessions.
ZEC rose 4.1% on its chart and was trading at $ 159.63 and would soon aim to break through the resistance line of $ 160.89. Techniques for ZEC have remained fairly positive.
The buying force has increased as the relative strength index shot to hit the mark 65. Chaikin Money Flow was also seen above the midline, inside bullish territory as it saw capital inflows.
MACD was showing increasing green bars on his histogram, which referred to strengthening bulls in the market. The alt was last at this level on June 4, after which it plunged to $ 159.63.
In the event that the ZEC hovers around the same prices for a long time over the next few trading sessions, it could rest on the support line of $ 137.78.