BAT,Bitcoin Cash, DigiByte Market Analysis for 12th January 2021

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Since Bitcoin, the world’s largest cryptocurrency, consolidated above the $36,000 level, the larger altcoin sector continued to – its losses after yesterday’s crash. Altcoins like Bitcoin Cash and DigiByte were looking to climb on the markets as the traders found price power, while, on the other hand, BAT was well on the way to recovery as the altcoin blinked green and looked at the $0.265 resistance range.

Basic Attention Token [BAT]

Source: BAT/USD, TradingView

Basic Interest Token bounced back from $0.208 and regained the $0.239 mark as the crypto asset rose by more than 7 percent in 24 hours. In the near future, the bulls might look to attempt a jump beyond the $0.265-resistance stage in the middle of a rebound in the larger altcoin industry.

The MACD revealed that bearishness was dropping on the market as the red bars on the histogram fell in length. The fast-moving line was looking to meet up with the Signal line, and a bullish crossover could see the price scale beyond its immediate resistance.

While the Relative Strength Index was in the neutral zone, it suggested a shift into the over-purchased zone.

Bitcoin Cash [BCH]

Source: BCH/USD, TradingView

Bitcoin Cash was able to reclaim the $500 mark after the bulls moved in and eased some of the losses made yesterday. At press time, BCH stood at $496.34, down 3.5 per cent in the last 24 hours. The stock was still a long way from its local peak of $654.32, but there was hope as the indicators indicated that the momentum might turn to the bulls in the short term.

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The Stochastic RSI was heading north of the oversold territory. If the index shifts into the over-purchased sector, the price could lower its immediate resistance to $551.16.

In addition, the On Balance Amount shows that an increase in buyer numbers could help the upward price trend of the cryptocurrency.

DigiByte [DGB]

Source: DGB/USD, TradingView

DigiByte’s movement on the charts has been very unstable over the past seven days since, after many attempts, it failed to cross the $0.03 resistance mark. In reality, DGB succumbed to the $0.022 mark during its last attempt to break above the above-mentioned resistance range.

However, during the last few trading sessions, the sellers have continued to increase the price above several resistance thresholds and have seen a jump to $0.029.

The Bollinger Bands showed a high degree of market uncertainty. Since the price picked up after dealing on the lower band, a turnaround could be made on the cards, and DGB could climb above the Signal line to a resistance of $0.029.

In the other hand, the Amazing Oscillator appeared to be at odds with the reversal and revealed that the bearish momentum was increasing as the red bars increased in length below the equilibrium point. Once again, if the price fell, it could test its immediate support.

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