Bitcoin Cash, EOS, DigiByte Price Analysis: 9 OctoberOctober 9, 2020
Most digital assets recorded positive gains on their daily charts today, as the bulls controlled the market. Bitcoin Cash and EOS remained delicately poised just under their resistance levels following a week-long consolidation.
DigiByte, on the other hand, having breached its resistance was in for another possible bullish move over the weekend.
Bitcoin Cash [BCH]
Source: BCH/USD on TradingView
The 5th largest cryptocurrency recorded a market cap of almost $ 4.4 billion and was up by almost 3% since yesterday. At press time it was trading at $ 237.90
The Chaikin Money Flow Indicator was well below the zero line, with capital outflows being greater than inflows.
This may put pressure on buy liquidities, and with a rise in volatility levels seen from the widening Bollinger Bands, a price action siding with the bears, may just be around the corner.
A price correction for the digital asset may push down the prices near the trend line and the pivot level of $ 236 over the weekend.
Source: EOS/USD on TradingView
EOS seen trading in the green today, up by about a percent, was in a short term uptrend. A bullish crossover, above the zero line was visible in the Awesome oscillator.
The dotted lines of the Parabolic SAR below the candles also supported an uptrend.
If the EOS bulls are able to take control of the immediate resistance of $ 2.678, then a good short term price recovery for the digital asset may also follow in the coming days.
Source: DGB/USD on TradingView
DigiByte was seen rising above the resistance of $0.024, making gains of almost 3.5% since yesterday.
The bulls seemed to have gathered good momentum, and the same was visible from its technical indicators. The MACD line was seen making a bullish crossover above the signal line.
Relative Strength Index also was at the 65 level. This indicated the presence of a good buying sentiment in the DGB market.
Given, the continuous upward rally so far, a price correction could also be around the corner. However, an overall bullish scenario is likely to result in a few more bullish trading sessions.
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