KogoCrypto Market Analysis of Bitcoin Cash, IOTA, Zcash, December 29th 2020

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Ethereum and Bitcoin have made some losses over the last few hours, and so have many altcoins. Bitcoin Cash has developed a bearish divergence and fallen below the level it was trying to flip to help, and IOTA has seen growing sales pressure over the past few days. Zcash entered a pocket of liquidity with a bearish momentum, and more losses could see it travelling as far south as $55.

Bitcoin Cash [BCH]

Bitcoin Cash was a bearish divergence. Coupled with a BTC dip from $27,000 to $26,300, BCH also suffered losses.

The $365 level rejected the price, and BCH traded at $342.7 at the time of writing. The RSI remained above 50 neutral. The $340-$350 area has been a region of interest in the past and could serve as help for BCH in the coming hours.

A dip below $338 is likely to see BCH sink further and test support at $326 in the coming days.

IOTA

Bitcoin Cash, IOTA, Zcash Price Analysis: 29 December

Source: IOTA/USD on TradingView

IOTA has risen above the $0.3 mark in an effort to flip it to help, but in the past few hours bears have seen some intensity and drive prices lower for many altcoins.

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IOTA slipped to find support at $0.288, but was likely to lose it in a short time. The OBV has shown that sales rates have risen over the past few days.

Subsequently, the price responded by dropping below the 20 SMA (white). The next level of IOTA funding is $0.25.

Zcash [ZEC]

Bitcoin Cash, IOTA, Zcash Price Analysis: 29 December

Source: ZEC/USDT on TradingView

The MACD has demonstrated a bearish crossover for the ZEC. This was a poor sell signal, as the MACD was still above the neutral line, but it could fall quickly.

In the past, the highlighted region in the vicinity of $63 served as a region of demand and could once again put a stop to ZEC losses. However, a trading session close below this level will see a shift in the supply zone.

This could push ZEC as low as $55, its next level of support, in the coming days.

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