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Most altcoins have suffered as a result of Bitcoin’s turbulent price swings over the previous several months, although many have recently showed signs of recovery.
Bitcoin Cash attempted to test the $557 resistance level a few days ago, but was met with negative signals at the time of publication. Since the latter week of June, BAT’s price movement has been lateral, with a 4.21 percent increase in market capitalisation over the past 24 hours. Finally, at press time, DASH recorded even buying and selling, with a 20% increase in trading volume over the same time period.
Bitcoin Cash [BCH]
Despite a 3 percent price increase in the previous 24 hours, Bitcoin Cash showed a negative trend with practically no major indicators of significant rebound. The cryptocurrency saw a short rally in the last week of June, attempting to break through resistance at $557 but failing to do so. At the time of publication, it was trading at $493.25.
The Parabolic SAR recorded an upswing as the price moved slightly north. The MACD histogram, on the other hand, reinforced the alt’s underlying bearishness and predicted a bearish crossover on June 30.
Because the green signal bars were depicted above the centerline, the Awesome Oscillator reading showed that the alt’s price may witness a spike in the short term.
Based on recent market moves, the bulls may find it difficult to break over the $557 resistance level for the time being.
Basic Attention Token [BAT]
Since June 28, BAT’s price movement has been lateral, with the currency bouncing between its immediate support and resistance levels. The cryptocurrency saw a spike in price on the 4-hour trading chart, rising by 5.1 percent in 24 hours. The first line of defence would be $0.62.
The aforementioned comment regarding consolidation was confirmed by the Average Directional Index, which was below the 20-mark, indicating a weak trend. BAT saw a modest increase in capital inflows, which was corroborated by the Chaikin Money Flow.
On July 1, the MACD indicator showed a bearish crossing.
DASH’s price has shown little volatility in recent days, and the technical analysis chart shows the token’s price moving within a narrow band without going up or down. Over the previous week, the token’s price increased by nearly 10%, and at press time, the alt was up by 3.4 percent.
According to the Relative Strength Index, the crypto-sideways asset’s movement may be ascribed to even demand and supply, as the indicator moved along the equilibrium, indicating equal buying and selling forces in the market.
The Bollinger Bands converged, indicating a time of minimal volatility. The MACD indicator registered a bearish crossover on 1 July. However, a reversal could be in the offing too.