Bitcoin Cash looks unclear as the indicators gave mixed signals about its potential direction to transform its press time resistance. Uniswap could shift southbound from its downward triangle trend as momentum increased on the sale side. Zcash demonstrated some indecision in its business as the price continued to trade within the band, with a breakout doubtful in the coming sessions.
Bitcoin Cash [BCH]
With weekly losses of more than 33 percent, Bitcoin Cash fell to 12th position in the crypto rankings with a market cap of $8.6 billion. On the four-hour timeframe, the market slipped below $464 in support, but the bulls looked back at the charts. The RSI avoided oversold territories but pointed down from the 35-mark at the time of publishing. The MACD was bullish-neutral as the fast-moving line was hovering just above the Signal line.
It was uncertain if the above-mentioned resistance point could be reversed in the next few sessions as trading rates and purchasing interest remained subdued.
A descending triangle formed on Uniswap’s 4-hour map after the price formed lower post-record peaks. Prices tend to break down from this trend on poor trade rates. The Amazing Oscillator revealed that the momentum rested on the sale side as the red bars rose beyond the half-line. A dip below the lower trend line may see UNI shift towards the $15 mark.
The Stochastic RSI disagreed with the AO and suggested that UNI might be up for some winnings after a bullish convergence in the oversold zone. However, a leap beyond the upper trend line was impossible to take into account the status of the wider economy.
Zcash continued to travel within a set channel on the 4-hour map while the balance was held between the buyers and the sellers. The Bollinger Bands also represented consolidation, as the market volatility stayed strong. The MACD line was superimposed on the signal line, representing the sector indecision.
However, a sudden change in either direction might see a large market tilt in favour of the faction that enforces the breakout. A bullish scenario might see ZEC shift towards the next resistance point at $138.4. Conversely, a downturn could see a market change towards $98.1 support.
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