Market-wide trends largely showed consolidation today. Altcoins like Bitcoin Cash and Dogecoin showed similar trading patterns.
Bitcoin Cash moved a little closer to the immediate support line of $ 690.28 and noted a minor drop of 0.6% in the last 24 hours. Dogecoin also showed a range limit move, with a small rally of 1.7%. Lastly, Filecoin rallied 12.7% while near its multi-month high of $ 95.70.
Bitcoin Cash (BCH)
Bitcoin Cash shone consolidation and was trading at $ 705.68. The altcoin declined 0.6% on its chart and fell a few notches below its multi-month high. The immediate support line was at $ 690.28, and failing to hold, it could drop to $ 655.
The additional support line stood at $ 603.21, a level that BCH last touched nearly four weeks ago. Technical indicators looked bearish for BCH. Awesome oscillator flashing red signal bars. Green bars on the MACD The histogram reversed and you noticed a single red bar, implying an incoming negative price action.
Bollinger Bands converged slightly, suggesting lower chances for BCH to face market volatility. A rally in prices could propel the altcoin to touch its three-month high at $ 719.
DOGE noticed a 1.7% rally in the last 24 hours and traded at $ 0.300. The altcoin continues to trade in a range-restricted fashion since the beginning of September.
An up move could push DOGE to secure a weekly high at $ 0.314. Pushing further, it could revisit its three-month high at $ 0.347. Indicators flashed mixed trading signals for DOGE. MACD showed short-bodied red bars on its histogram, after a bearish crossover.
Capital inflows also fell as Chaikin money flow sat below the midline. Interestingly, the Relative Strength Index it was above the 50 mark, within bullish territory. A change in prices could push DUX to trade at an immediate support line at $ 0.273, regaining its week-long lows.
In recent developments, DogeLabs announced node deployment and hosting plans to facilitate better infrastructure support for the altcoin.
FIL brought in an impressive 12.7% gain in the last 24 hours and was trading at $ 94.06. At this level, it remained around its multi-month high. The overhead resistance of the coin was at $ 95.70. Key indicators pointed towards bullish price action in the market.
MACD noticed a bullish crossover and showed ascending green bars on the histogram. the Relative Strength Index it was parked at 80, as the asset was overbought. Chaikin money flow it stood at 0.20 due to the increase in capital inflows.
A negative pullback could drag prices to the immediate support level of $ 88.50 and then to $ 82.26. If it does not stay above the last price line, FIL will drop further to touch $ 74.98. This downward movement also acted as a price booster in recent weeks.
This is a machine translation of our English version.
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