Basic Attention Token, Bitcoin Cash, Tezos Price Movement Analysis for 8th February 2021

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BAT could rise above its August 2020 levels if the price moves north of $0.427. BCH  moved below its 200-SMA once again but the bulls were likely to overturn the bearish market moving forward. XTZ projected an upside at $3.42 after the indicators flashed bullish signals.

Basic Attention Token [BAT]

Source: BAT/USD, TradingView

At the time of publishing, the bullish momentum of Simple Attention Token brought the cryptocurrency to a local high of $0.422. The Amazing Oscillator demonstrated the heavy momentum on the buyer’s side. A increase above $0.427 could see BAT surpassing its August 2020 peaks.

However, the momentum could fade out in the next few sessions after a bearish divergence was found in the Relative Strength Index. In the case of a short-term bearish shift, a fall below $0.32 will be unlikely to result in an uptrend over the past 30 days.

Bitcoin Cash [BCH]

Source: BCH/USD, TradingView

Bitcoin Cash slipped below its 200-SMA (green) four-hour timeline as the price traded just above the $450 mark. A glance at the chart shows that the bulls have tried to reverse the bearish market since the beginning of February, when prices have risen to higher and lower levels. That is why the increase over 200-SMA was definitely a possibility in the coming sessions. The bullish action could also give some solid buy signals, as the 20-SMA (blue) was on the verge of crossing the 200-SMA.

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A favourable outcome was also accompanied by a bullish crossover in the Stochastic RSI. On the other hand, the Amazing Oscillator showed that momentum was high on the bearish side as the red bars dropped below the half-line. In the event of a fall, funding for $418 could come into view.

Tezos [XTZ]

Source: XTZ/USD, TradingView

Tezos’ bulls were expecting an increase of more than $3.42 after purchasing activity in the last few sessions. According to the Chaikin Money Flow, capital inflows were high, while trading volumes increased by more than 30%. The MACD even experienced a bullish crossover.

All of these variables pointed to a bullish scenario for XTZ to go forwards. The next level of resistance is $3.61. Conversely, the bearish result, while doubtful, could see XTZ shift closer to the $3.14 support mark.

 

 

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