Bitcoin stabilizes above the $ 36,000 mark. So the larger altcoin market manages to cut its losses after yesterday’s drop. Altcoins like Bitcoin Cash and DigiByte were looking to move up the charts as buyers sought to control the market. On the other hand, BAT was well on its way to a recovery. The altcoin was turning green and observing the resistance level of $ 0.265.
Bitcoin Cash [BCH]
Source: BCH / USD, TradingView
Bitcoin Cash manages to regain the $ 500 mark after the bulls intervened. They have mitigated some of the losses recorded yesterday. BCH was trading at $ 496.34, down 3.5% in the past 24 hours. The price was also a far cry from its local high of $ 654.32, but there was some optimism. Indeed, the indicators suggested that momentum may shift to the short-term bulls.
The Stochastic RSI was moving north of oversold territory. If the index heads into the overbought area going forward, the price could reverse its immediate resistance at $ 551.16.
In addition, theOn Balance Volume shows that an increase in the number of buyers could support the upward movement in cryptocurrency prices.
Basic attention token [BAT]
Source: BAT / USD, TradingView
The Basic Attention Token bounces from $ 0.208. It recovers the $ 0.239 level as crypto asset has jumped more than 7% in 24 hours. In the near future, the bulls may look to target a move above the resistance level of $ 0.265 amid a rally in the broader altcoin market.
The MACD shows the decline was falling in the market as the red bars on the histogram decreased in length. The fast moving line was looking to catch up with the Signal line. A bullish cross could see the price ladder above its immediate resistance.
Although therelative strength index was in the neutral zone, this indicated a move towards the overbought zone.
DigiByte [DGB]
Source: DGB / USD, TradingView
DigiByte’s movement on the charts has been quite erratic over the past seven days. This is because it fails to break through the resistance level of $ 0.03 despite several attempts. In fact, DGB succumbs to the $ 0.022 mark after its last attempt to break through the aforementioned resistance level.
However, the buyers have managed to push the price above several resistance levels during the last few trading sessions. They envisioned a move towards $ 0.029.
The Bollinger Band shows a high degree of price volatility. The price picked up after trading on the lower band. So a reversal could be on the cards. Likewise DGB could rise above the signal line towards the resistance at $ 0.029.
On the other hand, theAwesome oscillator seemed to disagree with a reversal. It shows that bearish momentum was on the rise. The red bars rose in length below the balance mark. If the price drops, it could test its immediate support again.
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