Bitcoin Cash hit $550 and seemed to return to assist on a retest of the same amount. Compound broke out of a triangle pattern and set a $520 price target. After defending at $1.29, IOTA saw some appeal, but closing a session under $1.5 might see it back to $1.29.
Bitcoin Cash [BCH]
BCH’s longer-term view was slowly shifting in favour of the bulls. The Point of Control (red) was found to be at $526 using the Volume Profile Fixed Range (VPFR) from late January to the present. At the time of publishing, BCH was trading above this amount at $559, and the $550-level seemed to have flipped to help.
In reaction to the bullish energy behind BCH, the Awesome Oscillator was above zero and climbing. The next significant resistances, according to the VPFR, are $595, $670, and $718.
On COMP’s charts, a descending triangle (orange) was visible, and the market also broke out of the triangle trend, with the alt trading at $459 at the time of publishing. Overhead resistance ranges of $471, $500, and $526 were notable.
The MACD showed good bullish sentiment behind COMP, with the triangle pattern’s breakout reliant on high market turnover and legitimising the breakout. This will imply a technological target of $500-$520 for COMP.
IOTA has successfully maintained the $1.29 support level over the last week, with the alt regaining ground on its local highs near $1.7. It burst through former resistance at $1.55 to become support, and the $1.5-$1.55 area is projected to act as a demand zone.
On the 4-hour map, the RSI was at 58, suggesting a bullish pattern, but not significantly so. Since mid-March, the OBV has been trending north, but there hasn’t been much purchasing volume since the decline from $1.7 to $1.29.
A close below $1.5 might return IOTA to $1.29.
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