After a brief correction phase, Bitcoin rose past $18,000 once again, with the cryptocurrency trading at $18,501, at the time of writing. Bitcoin Cash could see a minor dip, but it can be expected to flip the level of resistance at $288 to support in the coming days. Further down the crypto-ladder, Synthetix recovered strongly from its recent drop and had short-term bullish momentum to spare. Finally, Dash had a strong uptrend going in its favor, one that could see gains posted in the coming hours. However, it remained to be seen if buyers will step in to flip a level of resistance to support.
The RSI on the 4-hour timeframe for BCH showed that the trend might have flipped to a bullish one as the indicator rose above 50 and dipped to retest the neutral zone.
This could see BCH drop on the charts, possibly as far as $275, before ascending towards the $288-resistance level once more.
The trading sessions that registered losses over the past few hours had weak trading volume, a finding that indicated that the price was likely to recover and move north once again.
Synthetix had retraced 61.8% of its latest drop from a swing high of $5.83 to a swing low of $3.61. The Awesome Oscillator crossed over into bullish territory for SNX as the token registered recovery on the charts.
There was some indecision in the market at the 61.8% level, and the price was pushed south once again over subsequent trading sessions. And yet, the overall short-term outloo ...
Disclaimer: The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.