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Certain altcoins have been climbing, while others have remained range-bound, with a minor value erosion. Bitcoin Cash increased by 7.4 percent and crept closer to its immediate price ceiling of $782.67. In response to increased demand, EOS gained more than 10% in the last day and traded close to its immediate resistance level of $6.77. Axie Infinity moved sideways and may break the consolidation on the downside to trade near the $68.62 support level.
Bitcoin Cash (BCH)
BCH has maintained its upward trajectory, rising 7.4 percent in the last 24 hours. It was trading at a multi-month high of $781.72. The overhead resistance was $782.67 at the time. BCH could aim to set a new four-month high if it continues to rise.
Technical indicators suggested that the bulls could continue to dominate in the following trading sessions. MACD’s histogram showed green bars. According to the Relative Strength Index, the altcoin was overbought. This is the third time the altcoin has surpassed the 7% level on the Relative Strength Index since mid-August.
Bollinger Bands have separated, signalling that market volatility has increased. A price correction would cause BCH to trade at $705.02. Additional layers of protection were at $672.86 and $623.37. The latter price line is the lowest value at which BCH has traded in a week.
EOS rallied 10.1% over the past day and was trading at $6.22. Immediate resistance for EOS was at $6.77. Technical indicators for the coin signaled bullishness. Buying pressure has been on the rise since the beginning of September.
It was over the 75 mark on the Relative Strength Index, indicating overbought conditions. Similarly, Chaikin Money Flow remained above the half-line, indicating that capital inflows were strong. MACD’s histogram also showed green bars.
A drop in buying power might push EOS down to the $5.60 support level. A drop below $5.60 would bring the altcoin down below $5.20, which has also worked as a catalyst for prices in recent weeks. If EOS fails to hold above $5.20, it will trade near its multi-week low of $4.53.
Axie Infinity (AXS)
AXS was consolidating and trading at $82.84. It has dropped by 1.2 percent in the last 24 hours. The coin was trading near the $79.71 immediate price floor. If AXS falls below $79.71, it will be close to its weekly low of $68.62.
If the alt fails to hold above the latter price line, it will fall to $64.46, its four-week low. After a bearish crossover, MACD displayed red bars on its histogram.
The Awesome Oscillator showed red signal bars. The Relative Strength Index, on the other hand, was over the half-line. A price reversal might send Axie Infinity back to its all-time high of $92.92.