VeChain, Ethereum, Bitcoin Cash Price Movement Analysis for 1st June, 2021

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In the event of a breakout over $0.143, VeChain’s trajectory might flip to a positive trend. Ethereum is expected to break through $3,000 in the next weeks. Finally, volatility in the Bitcoin Cash market remained minimal for an instant price move.

VeChain [VET]

VeChain has defended $0.098-support from a breakdown and has seen some upward momentum in the last few days. Moving forwards, all eyes will be on the $0.143 support level. EMA Ribbons traded between $0.143 and $0.118, indicating that a negative trend was still in place. A good breakout above these moving averages might indicate a possible shift to a more positive trend.

A bullish twin peak configuration on Awesome Oscillator signalling that buying momentum was growing. If sellers reject a breakthrough attempt, VET will most likely remain in its current channel.

Ethereum [ETH]

Source: ETH/USD, TradingView

As Ethereum prepared for its next significant upsurge, the attention would be mostly on the $3,000-resistance level, which has yet to be recaptured following the recent crypto sell-off. With buying pressure on the rising, according to the Squeeze Momentum Indicator, a successful breakthrough was expected in the following weeks. Volatility, on the other hand, was modest for a quick price increase.

See also  Chainlink Price Analysis for December 28th

When ETH breaks over its upper limit, some extra resistance might be predicted between $3,200 and $3,600. If a breakthrough is blocked following a retest of $2,900, ETH will most likely trade sideways. Meanwhile, the MACD line was hovering above the Signal line, indicating that the bulls were making headway in ETH’s comeback.

Bitcoin Cash [BCH]

Source: BCH/USD, TradingView

The 4-hour timeframe was chosen to better reflect Bitcoin Cash’s recent downwards swing. During this time, BCH’s movement was mostly limited to the $620-$800 range. According to the constrained nature of Bollinger Bands, market volatility was minimal, and consolidation was predicted in the next sessions. In the event of a breakthrough, the attention would be on the goals outlined in a previous study.

An ADX value of 16 also indicated a weak market trend, and big price fluctuations were unlikely in such a scenario.

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