372 Interactions, 4 today
Bitcoin Cash fell dramatically below $514 before recovering to climb back over $500, while Dogecoin bounced off $0.0495 and made a feeble attempt to climb past $0.0541. Bulls on the Waves were attempting to break through the $12.4 resistance mark.
Bitcoin Cash [BCH]
The missed breakout of the ascending triangle prompted BCH to stay above the $514 level, and the past week saw a dramatic drop as low as $445 for BCH before bouncing back to trade at $508 at the time of publishing.
The OBV, on the other hand, did not show a noticeable increase in either direction. The late-February peaks on the OBV have yet to be broken because buyers and sellers have been in balance in terms of trading volume since then, though buyers seemed to have a marginal advantage in recent days.
The Awesome Oscillator mirrored the market movement by displaying a loss of momentum as it passed just over the zero axis.
The ascending triangle’s failed breakout saw BCH stagnate above the $514 mark, and the past week saw a sharp descent as low as $445 for BCH before bouncing to trade at $508 at the time of writing.
However, the OBV did not see a significant spike in either direction. The late-February levels on the OBV are yet to be breached as buyers and sellers have been in equilibrium in terms of trading volume since then, although buyers appeared to have a slight advantage in recent days.
The Awesome Oscillator reflected the price action by showing a lack of momentum as it faintly crossed above the zero line.
Dogecoin narrowly reached the $0.054 threshold before slipping down below it. The MACD indicator’s MACD and signal lines were piled on top of each other on the zero axis, suggesting a lack of momentum. In recent sessions, trading activity was also lower than normal.
The Chaikin Money Flow increased above +0.05, indicating that there was nett capital flow into the industry, indicating that investors were higher. Following the $0.0541 support flip, trading sessions of above-average turnover and increasing bullish sentiment can be used to buy.
The ascending trendline of the previous week reflects dynamic support for WAVES- the price found steady resistance at the $12.45 mark, and if retested, would form an ascending triangle pattern and could see an upside breakout.
The RSI was at 54, and the Stochastic RSI was back from oversold territory.
Flipping the $12.3 mark will be a chance to open a long position with a goal of $14.2, while the 61.8 percent and 50% retracement ranges are horizontal supports.