The altcoin industry flashed mixed trading sessions as certain alts went up on their respective charts while others went down. Those that have gone down in the past 24 hours include BAT and BitTorrent. BAT was down 2.9% and fell below its immediate support line of $ 0.880.
BitTorrent also fell 1.8%, hovering near its multi-week low of $ 0.0040. Bitcoin Cash, on the other hand, gained 3.6% and could attempt to hit its multi-month high of $ 793.76 again.
Bitcoin Cash (BCH)
Bitcoin Cash was trading at $ 740.02, up 3.6% in the past 24 hours. Overhead resistance was at $ 793.76, which is also a four-month high for the coin. However, the technical chart indicated imminent bearish price action for BCH.
Great oscillator red flashing signal bars. MACDThe green bars in the histogram decreased and showed the beginning of a red bar. Relative Strength Index fell and threatened to fall below the half-line, which indicates declining purchasing power.
If BCH falls below its current price level, it could land at its next support of $ 722.30. Additional support levels were at $ 689.74 and $ 624.30, which was also the BCH’s weekly low.
The BAT decreased 2.9% in the past 24 hours and was valued at $ 0.885. It recently fell through its $ 0.880 support line. On another downtrend, it could hit its three-week low of $ 0.734. BAT expected an additional price floor at USD 0.662.
The technical outlook for BAR was in decline. Great oscillator red flashing signal bars. BAT’s candlesticks were also seen below the 4 hour 20 SMA, indicating that momentum was among the sellers.
Accordingly, the Relative Strength Index reflected lower buying pressure as it was below the half-line. MACDThe histogram also showed red bars. On the flip side, BAT could try again to test its multi-month high at the price cap of $ 0.981.
BitTorrent was down slightly 1.8% in the past 24 hours, trading at $ 0.0045. It had just broken below the $ 0.0046 support line and was slowly moving towards its three-week low of $ 0.0040.
The parameters indicated a downward price movement in the market. Great oscillator a sell signal is registered and red signal bars are displayed. The is accordingly Relative Strength Index saw a decrease in buying pressure as the indicator was below the half-line within a week.
Chaikin money flow was below the midline as capital inflows declined. In the event that BitTorrent prices reversed, the overhead resistance waited at $ 0.0049 and then at its four-month high of $ 0.0057.