Bitcoin Cash retained 10th place in the crypto rankings, although it was severely affected by the recent correction in the broader market. Huobi Token issued bullish signals but a break above its resistance at press time was unlikely. Finally, Zcash is expected to trade within a fixed channel as volatility is low in the market.
Bitcoin Cash [BCH]
The weekly losses on the Bitcoin Cash charts stood at 34% as a correction in the wider market had a negative effect on the cryptoasset. This period also saw $ 3 billion erode from BCH’s total value, as it held on to No. 10 in the crypto rankings with a bare margin, with a market cap of $ 9.18 billion. . At the time of writing, BCH’s price is floating just above its support of $ 464, while indicators are giving mixed signals on BCH’s future trajectory.
The RSI spiked lower below 40 and reflected low prices. On the other hand, the MACD moved above the signal line as the histogram registered increasing bullish momentum. With the crypto market waiting for strong signals, we can expect BCH to stay above its press time support level. If the aforementioned level fails, the next line of defense would be at $ 421.5.
Huobi Token [HT]
The ADX indicator showed that Huobi Token’s bullish trend was weakening after the price hit an all-time high exactly one week ago. In fact, losses amounted to over 30% as a result of the broader sell-off of the crypto market. At the time of writing, the price of altcoin has rebounded from the $ 15.4 support after the bulls intervened.
The MACD was approaching a bullish cross, as the red bars on the histogram moved toward the half-line on the histogram. Either way, its gains would be capped at immediate resistance and a rise to all-time highs seemed unlikely over the next few trading sessions.
The Bollinger bands on Zcash’s hourly charts were compressed as volatility remained low after price rebounded from its $ 114.7 support. Low trading volumes and buying pressure worked against a bullish result even though the price appeared to break through the resistance of $ 124.75.
The Awesome oscillator turned red from green as momentum shifted back and forth in recent sessions. Going forward, expect Zcash to stay in its current channel as it waits for stronger signals from the wider market for a definitive move on the charts.
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