Bitcoin Cash, MATIC and Zcash trading volumes declined 34.07%, 32.02% and 3.17%, respectively, in the past 24 hours. However, BCH has not seen any significant price movements in the past few days, while MATIC has seen a downtrend despite some buying pressure. Eventually, Zcash registered a market weakness.
Bitcoin cash [BCH]
BCH traded sideways despite price corrections on June 23. The token has moved directionless in the past few weeks. At press time, Bitcoin Cash noted that its base was resting at its crucial support level of $ 475. At press time, the altcoin was trading at $ 495.87. Its value fell 0.5% and continued movement along the same pattern will soon push the price below $ 475.
Mixed signals were spotted on the Great oscillator when red signal bars erupted in between bullish trading sessions due to bearish trading sessions. Pressure to buy increased slightly at the time of writing as the Relative Strength Index noticed a small increase.
A bullish crossover was observed on July 9th, prompting short-term bullish momentum on the MACD Indicator. However, the bullish momentum had faded as of press time. Overall, no significant dynamics were discernible for BCH.
After a certain range movement, the market bears pushed MATIC’s price below its key support level of 1.03 at the time of going to press. The price was observed to fluctuate between $ 1.03 and $ 1.02. This meant a price drop of 8% over the past week. MATIC’s trading volume also fell significantly in the charts.
In the last few days there has been pressure to sell. However, since the price has absolutely not changed in the last 24 hours, buyers bought the token again. The Relative Strength Index showed a slight increase in buying pressure at the time of going to press. According to the pressure to buy, the Chaikin money flow Likewise recorded an increase in capital inflows.
Since the price has been falling since yesterday, the Parabolic SAR showed that the dashed lines were above price levels, confirming a downtrend in the charts.
Following the rally on June 23, ZEC’s prices consolidated between the support and resistance levels of $ 110 and $ 131. However, at press time, the coin was trading below the USD 110 support level. ZEC was priced at $ 109.19 and if the bulls don’t gain strength it can drop to the $ 93.53 support level.
The dotted lines of the Parabolic SAR were visible below the candlesticks, a sign of an uptrend. The Bollinger bands flashed another signal, however, as the indicator tightened and indicated low market volatility. If the price goes up, the next level of resistance for ZEC would be $ 131.
The Average direction index confirmed the trendless price action of the Alt as the indicator remained below the 20 mark at the time of writing.