Bitcoin and Ethereum consolidated on their respective charts, however, some altcoins saw dissociated moves as they began to decline in the past 24 hours. Bitcoin Cash was trading near its one-month low after falling 4.4%.
Kosmos was also down 4.3%, heading for its immediate support at $ 25.54. Solana, on the other hand, took a breather from his rally and traded sideways.
Bitcoin Cash (BCH)
Bitcoin Cash fell 4.4% to trade at $ 643.51. The coin was currently trading near its one-month low. Any further decline would push the coin below the $ 623.37 floor price. Although Bitcoin Cash fell on its charts, the indicators did not reflect the same move.
MACD showed green signal bars on its histogram following a bullish crossover suggesting that prices may rebound in the upcoming trading sessions. Great oscillator also noticed green signal bars. Chaikin money flow rose above the half-line, suggesting that capital inflows have increased during the last trading sessions.
If BCH revives its prices, the coin could plunge above the resistance level of $ 672.68 and then hit the weeklong price level of $ 705.02 again. If prices are held above the price cap above, the multi-month high of $ 789.57 can be retested.
SOL demonstrated a consolidation and fell slightly by 1.7% on the charts in the past 24 hours. Solana’s uptrend paused as buying pressure eased on the charts.
If SOL continues to trade sideways in the next few trading sessions, it could fall to its immediate support line of $ 163.74 and then to its one-month low of $ 125.95. The additional level of support was $ 93.20.
Technical parameters for the coin indicated negative price action. Prices were below the 20-SMA as the 4-hour chart showed, suggesting that momentum was in favor of the sellers. MACD red bars are displayed in its histogram.
the Great oscillator flashing red signal bars and a sell signal. Relative Strength Index also saw a decrease in buying pressure and threatened to fall below the half-line. On the flip side, the coin can hit its all-time high of $ 214.96.
ATOM fell 4.3% on its charts and was valued at $ 29.08. Despite a rally since September 6th and breaking through successive levels of resistance, the coin’s uptrend stalled. Its immediate support level was at $ 25.54 and then at its one-week low of $ 21.50.
If ATOM does not stay above the latter support level, the coin could fall to its three-week low of $ 18, followed by a monthly low of $ 13.80. Technical indicators showed that ATOM could be heading for price recovery.
MACD went through a bullish crossover and showed a green bar on its histogram. Great oscillator showed a green signal bar as the previous trading session was in the green.
Bollinger bands converged, suggesting that volatility would remain low during upcoming trading sessions. On the flip side, the coin could try again to plunge above its five-month high of $ 29.22.