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Bitcoin Cash price analysis: BCH to fall below $450 as selling pressure escalates

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  • Bitcoin Cash price analysis suggests decay to the $400 mark
  • BCH faces resistance at the $550 mark
  • The closest support level lies at $500

The Bitcoin Cash price analysis shows that BCH has observed a steady to the $500 support with a set of lower highs set up in the last week. The selling pressure continues to rise as the bullish sentiment dies down. The market outlook is very negative suggesting a sharp drop towards the $400 mark.

The broader cryptocurrency market has observed a bearish market sentiment over the last 24-hours as most major cryptocurrencies record negative price movements. Major players include ATOM and NEAR, recording a 6.15 and a 5.07 percent decline, respectively.

Bitcoin Cash price analysis: Market observes steady decay

Bitcoin Cash price analysis: BCH to fall below $450 as selling pressure escalates 1
Technical indicators for BCH/USDT by Tradingview

Across the technical indicators, the MACD is currently bullish, as expressed by the green histogram. However, the indicator shows little bullish momentum as the size of the histogram is tiny at press time. As BCH continues oscillating around the $510 mark, the indicator would continue to observe low momentum as it has observed in the last three days. 

The EMAs are currently moving horizontally as BCH observes little to no market activity. The two EMAs are currently trading close to each other showing little to no divergence as traders continue speculating. 

The RSI was down in the oversold region yesterday but has shown recovery to the 50.00 index level as BCH held the $500 support. However, the indicator is currently trading with a gentle slope suggesting little to no volatility in the markets as trade volume remains low. Regardless, the indicator’s mean position leaves room for a rally in either direction, while the downwards movement suggests bearish dominance at press time. 

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The Bollinger Bands are currently narrow and show horizontal movement suggesting a convergence in the short term. The price is currently trading below the mean level suggesting a downwards trend for the indicator as it converges around the $500 mark. Overall, the indicator suggests a dropping price volatility for BCH. 

Technical analysis for BCH/USDT

Overall, the 4-hour Bitcoin Cash price analysis issues a sell signal as 13 of the 26 major technical indicators support the bears across the timeframe. On the other hand, only three indicators support the bulls showing low buying activity in the markets. Meanwhile, the remaining ten indicators sit on the fence and do not issue any signals at press time. 

The 24-hour Bitcoin Cash price analysis accentuates this sentiment and also issues a sell signal with 14 of the indicators suggesting a downwards price movement against only three indicators supporting the bulls across the timeframe. At the same time, nine indicators remain neutral and do not support either side of the market. 

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What to expect from the Bitcoin Cash price analysis?

Bitcoin Cash price analysis: BCH to fall below $450 as selling pressure escalates 2
4-hour price chart by Tradingview

The Bitcoin Cash price analysis shows that BCH is currently observing a period of low volatility as the majority of the traders speculate the market. The short-term technical indicators are unclear, and the mid-term technical analyses suggest a bearish rally. However, with the trade volume remaining low, BCH can be expected to observe decay below the $550 mark as the price returns towards the $400 long-term support level.

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The Graph price analysis: Bulls prepare to hit their next target beyond $0.77

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  • Price has rejoined the $0.76 level today.
  • The Graph price analysis predicts an uptrend.
  • Support level is found at $0.624 for now.

The green candlesticks have returned to the price chart as a rise in bullish momentum has been detected as per The Graph price analysis. The situation is getting favorable for the buyers as the price has been travelling safely since the past few days. The upward movement in price has resulted in it climbing above $0.76 in the last 24-hours. The bulls are dominating in the market today and the upward trend has been following regularly.

GRT/USD 1-day price chart: Price resettles above $0.76 position after winning victory

The 1-day price chart for The Graph price analysis shows chances are increasing for the buyers to secure their permanent lead as the price has been floating above $0.765. In the past few days, a remarkable level of recovery has been reported as the price has increased sufficiently. The gains have been considerable and the chances of an upcoming upswing are coming back. The price has moved higher than the moving average (MA) level as well which is settling at $0.711 for now.

The price underwent noticeable fall during the past few weeks but now the bulls are getting back on track. The Bollinger band indicator in the candlestick chart is dictating the following values; the upper value is $0.776 whereas the lower value is $0.624. The Relative Strength Index (RSI) score has reached 54.60 as the graph shows an ascending curve.

The Graph price analysis: Recent upset risks price stooping below $0.76

The ongoing uptrend has undergone reversal as a downturn in price has been reported in the last four hours. The bears have made a strong comeback in the past few hours and have been able to degrade the coin value to a great extent. The cryptocurrency has been devalued to $0.765 after the trends underwent a major shift recently. The four hours price chart is also pointing out that the moving average for GRT/USD is currently at $0.735.

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The Graph price analysis: Bulls prepare to hit their next target beyond $0.77 2
GRT/USD 4-hours price chart. Source: TradingView

A crossover between SMA 20 and SMA 50 occurred previously but now the bullish trend has been overturned. The volatility has increased in the last four hours as now the upper Bollinger band is at $0.774 and the lower Bollinger band is at $0.641. The RSI score has gone down to 61.98 as a result of the sudden downfall in price.

The Graph price analysis: Bulls prepare to hit their next target beyond $0.77 3
GRT/USD technical indicators chart. Source: TradingView

The general trend that has been observed during the past few days has been on the bullish side, as it can be further confirmed from the technical indicators chart. There are 12 indicators occupying the buying position, 10 indicators are on the neutral position and four indicators are on the selling position.

The moving averages indicator is showing favorable results for the buyers as well with a buying signal. There are 10 indicators currently present on the buying position, four indicators on the selling position and one indicator on the neutral position. The Oscillators are going bullish with two oscillators on the buying position, nine on the neutral position and zero oscillators on the selling position.

The Graph price analysis conclusion

The price is going high according to the one day and four hours The Graph price analysis. The bullish momentum has been rising since the past few days, which has greatly benefited the buyers. The recovery in bullish momentum has resulted in the price rejoining the $0.765 level today. A sudden drop in price happened in the last four hours which means that the coming hours might prove slightly unfavorable for the cryptocurrency.

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Polkadot price analysis: DOT stable at $40, expected to move higher

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  • Polkadot price analysis shows mixed market sentiment.
  • Resistance is found at $41.6.
  • Support for DOT/USD is present at $35.

The Polkadot price analysis shows DOT/USD is in a stable position at the current price level of $40.7. The crypto pair is receiving mixed market sentiment today as the price movement is minimal. The last candlestick continuously blinks as green or sometimes red, indicating the price oscillation around the current level. On 13th October, a steep spike in price was observed, which took the DOT price from $35 to $ 41.6, from where the DOT/USD got rejected the next day as selling pressure came in. However, the spike helped the coin to swing as high as recording a four-month high, and still, the price is on the higher side above $40.

DOT/USD 1-day price chart: Bulls and bears fighting for market dominance

The 1-day price chart for Polkadot price analysis shows bulls are trying to maintain the price above $40, but bears are giving them a tough time as selling pressure is quite high, often overruling the bullish efforts. Dot/USD pair is trading hands at $40.7 at the time of writing but has lost a value of 3.8 percent over the last 24 hours, as bears have been degrading the price for the last few hours, but the coin has gained more than 19 percent value over the past week. The trading volume is down by more than 47 percent, resulting in the market dominance of 1.6 percent for the 8th ranked cryptocurrency.

The volatility started increasing on 12 October and has increased significantly since then as the Bollinger bands now show steep divergence, with the upper band at the $41.5 mark representing the resistance for the price and the lower band at the $24.4 mark.

The relative strength index (RSI) has taken a turn and is moving on a straight line after the price hit $41. The RSI indicates competition between the buyers and sellers to dominate the price function, which is dangling between both sides at the time of writing.

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Polkadot price analysis: Recent developments and further technical indications

The 4-hour price chart for Polkadot price analysis is also indicating the same market behavior as can be seen the price went up during the first 4 hours of today’s session but then decreased in the preceding hours, but the price fluctuation is comparatively small despite the high volatility on the 4-hour chart.

Polkadot price analysis: DOT stable at $40, expected to move higher 2
DOT/USD 4-hours price chart. Source: TradingView

The Bollinger bands show an upwards breakout with the upper band at the $44.9 mark and the lower band at the $31 mark, making an average at the $37.9 mark, which now represents the support for DOT/USD. The RSI is at index 64 near the overbought limit but in the neutral zone.

Overall most of the technical indications are in favor of buying DOT/USD assets as 14 technical indicators show buying signs, and only four technical indicators show selling signs, whereas eight technical indicators stand neutral out of a total of 26 technical indicators.

Polkadot price analysis conclusion

The Polkadot price analysis suggests the price can go in any direction depending on the increase in either side’s activity, but chances are for DOT/USD to correct some more as the price is on the decline from yesterday. If the support remains persistent, traders can expect the DOT to float above $40 for the coming hours, but if support falters, DOT/USD will retrace to the $36 range. however, the price can be expected to go towards new discoveries in the coming days.

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Bitcoin Price Hits $60K ! Cardano, Ethereum and Polkadot To Follow The Rally !

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Bitcoin Price hit the much-awaited $60,000 level for the first time since Apr.18 at 5:19 a.m. UTC on the popular exchange Bitstamp.

Major cryptocurrencies are trading in the green today as Bitcoin and altcoins are both in action. Most tokens have recouped their weekly losses. BTC is above $59K, ETH is above $3,800 up 5.3% in the last 24 hours. XRP is set to test resistance at $1.15. However, ADA is slipping gains.

As Bitcoin (BTC) approaches its next resistance level, a well-known crypto strategist and trader predicts three altcoins to heat up.

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Capo, a pseudonymous crypto researcher, assures his 177,400 Twitter followers that Bitcoin will shortly reach $60,000 before breaking through $100,000 in the months ahead.

In terms of the altcoin market, Capo has shared a chart showing Bitcoin’s dominance of the global crypto market cap is hitting a historic resistance level. A bit of a shift, according to the trader, is on the horizon.

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ADA, ETH & DOT Bullish!

Capo believes Polkadot (DOT), Cardano (ADA), and Ethereum (ETH) have the most potential profits as the altcoin market heats up.

DOT, a cross-chain interoperability standard, is currently trading at $41.14, up 24.9 percent in the last week. ADA, a scalable decentralized platform, is trading at $2.18, almost unchanged from a week ago. According to CoinGecko, the open-source smart contract blockchain ETH has increased by 6.2 percent since last Thursday and is now worth $3836.

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Capo goes on to describe why he thinks a new altcoin season is on the way in a lengthy post.

He says, Bitcoin is now confirming the bullish situation, and targets of $100k and higher are expected to be reached in the next months. This would create the ideal environment for people to feel at ease and begin speculating on altcoins.

He points out that on the BTC dominance chart (BTC.D)  a massive concealed bearish divergence is visible, and the green support is weakening. The alt season could end there, in my opinion, at the 2018 lows.

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Van De Poppe has also made a bullish prediction for the crypto market as he says, the next 6 to 9 months is going to be monumental for many levels. Never seen before price rallies are on the way for the market he added.

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