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The crypto market is shedding off gains added in the past days
BCH rise amidst a broad gain while ADA and EOS trails the general market losses
The entire cryptocurrency is trailing a downtrend from the few gains earned in the past days as the flagship digital currency bitcoin (BTC) got rejected on its ambitious way to surge past the $11,500 mark.
While the rejection hs sent a ripple effect down the entire cryptocurrency market, some coins such as Bitcoin Cash (BCH) has stood strong to tick slight gains in the past 24 hours
Bitcoin Cash (BCH) Price Analysis
Bitcoin Cash has been on a bullish trajectory since it began its retracement on the second of October. Since then, Bitcoin Cash Price has risen over 15% in the past week and it is currently up 2.76% trading at $259.41 as of press time.
Bitcoin Cash currently ranks as the only coin among the top 10 cryptocurrencies to see gains in the past 24 hours. While the coin has a stellar price performance in the past week, the bears seem to be prevailing in the past hour as the coin has lost 1.08%. Large and by, Bitcoin Cash has strong appeal for more bullish dive in the near term
- The resistance level is formed at $264.65.
- The support levels are formed at $254.78
- The current market sentiments indicate a hold as the RSI is slightly above the neutral zone
Cardano (ADA) Price Analysis
ADA Price is currently trading at $0.105 after remarkably losing as much as 4.52% in the past 24 hours. Cardano is one of the coins whose earlier gains are not enough to sustain in the face of the current crypto market down plunge.
Although the 4.52% drop in Cardano’s price has not caused enough dent in the coin’s price with gains of over 14.87% in the past week. ADA has shown massive resilience in the past month to suggest that the current downtrend may be shortlived.
- ADA has its resistance level formed at $0.108
- The support level is currently formed at $0.105
- The general market sentiment around ADA indicates a sell
EOS Price Analysis
EOS has shown a remarkable fluctuation in its price in recent times earmarked by its loss of 1.16% over the last 24 hours and a complimenting gain of about 0.14% seen in the last hour.
The Crypto also has a similar performance when both the weekly and monthly gains are analyzed. While EOS Price dropped 5.07% in the past month, it has corrected with a 1.48% gain in the past week.
The fight between the bulls and the market over who would take control of the market lends uncertainty to the projected future price performance of EOS.
EOS is currently trading at $2.61
- The key resistance level is at $2.63
- The support level for EOS is currently at $2.59
- General market sentiment indicates a sell
The crypto market in its usual volatility may make swift moves depending on whose force dominates based on factors that may confound the technicals.