MATIC, Cosmos, Bitcoin Cash Price Analysis: January 13


Interestingly, the crypto fear and greed index plunged one point over the past day as the market moved into the green zone. This reading meant that the recovery still failed to alter the overall sentiment.

MATIC has seen a double-digit rally since its 11-week breakpoint and recovered to the 61.8% level. Additionally, Cosmos and Bitcoin Cash broke through their short-term SMAs but failed to build compelling volumes.

Polygon (MATIC)

TradingView, MATIC/USDT

After hitting its ATH on December 27 at $2.92, MATIC pulled back and recorded a decline of 34.7% until it hit its monthly low on January 8. The fall repeatedly tested the 38.2% Fibonacci support, but this area failed to offer high liquidity.

MATIC has posted a 25.2% ROI in the past five days alone after rebounding from its 11-week checkpoint (red). Thus, it finally recovered the support levels of 61.8%, 78.6% after losing them.

At press time, MATIC at $2.38. the IRS saw an increase of 32 points in the last three days after a bullish divergence with the price. Thus, he finally crossed the half line and showed a bullish preference.

Moreover, the AO jumped above the half line after seeing bullish twin peaks below balance. However, the Volume oscillator marked lower peaks, hinting at weak bullish movement.

Cosmos (ATOM)

TradingView, ATOM/USDT

Alt jumped over 35% (from Jan 1) and hit a 15-week high on Jan 7. This tilt helped ATOM recover its long-term Fibonacci support of 23.6% at $36.

After retesting the $32.5 support for over seven weeks, the bulls have finally initiated a sustained breakout over the past four days. With this rally, the alt has formed an ascending widening wedge over the past month.

Now, like the 20 ADM (red) and the 50 SMA (grey) saw a bullish crossover, it represented increased buying influence.

At press time, ATOM was trading at $40.07. the IRS consistently scored higher peaks and jumped above the midline. Moreover, the EMD too flashed a bullish bias the ADX showed a weak directional trend.

Bitcoin Money (BCH)

TradingView, BCH/USDT

The bulls failed to hold the crucial $419 support while the bears repeatedly retested it. Price action has seen a sustained decline below this level for the first time in over a year now.

BCH saw a regularized breakout of the descending channel after hitting its five-week low on January 10. The alt has seen gains of over 10% over the past three days and reclaimed the $387 support. The immediate test level for the bulls was at the $402 level.

At press time, BCH was trading above its 20-50 ADM at $388.6. the IRS was heading north and looking to test the overbought region. Also DMI lines entered a bullish crossover. But the Volume oscillator dipped, indicating weak bullish movement.


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