Dash takes the lead, in terms of relative performance, with a 60% return since 2020, while BCH ranks 2nd [15.57%] and Algorand noted a -19.02% return. Although all the altcoins felt the effect of Bitcoins collapse, some collapsed more while some showed no effect. Dash looks to have surged the highest among BCH and ALGO.
Source: TradingViewSource: ALGOUSD TradingView
As seen, the price of Algo [$0.1751] is stuck between resistance [$0.186] and support [$0.144] with the initial signs of a retracement. Supporting this is the Stochastic RSI which has seen a bearish crossover in the overbought zone.
The 44th largest cryptocurrency has seen a 5.74% surge in the last 24 hours putting its market cap at $119 billion and 24-hour trading volume at $75 million.
Source: DASHUSD TradingView
Unlike Algo, Dash is showing a confusing scenario with price forming a symmetrical triangle pattern. This pattern comes at a time when the price [$67.70] is stuck at VPVRs PoC [Point of Control] – $68.17. Depending on which side of the PoC the token breaks, the surge will happen towards that side. As for the MACD, the indicator is showing a bearish crossover.
Source: BCHUSD TradingView
Bitcoin Cash, the fork of Bitcoin is showing a massive overhead resistance posed by the 200 DMA and the 50DMA. Further, the DMAs are showing signs of a death cross, indicating more bearish pressure. In addition, the price has formed a bullish pattern – an ascending triangle.
With the price at $235 per token, BCH could surge from its current position to 200DMA $270, however, beyond this point, the price might not be abl ...