Bitcoin Cash, Synthetix, Dash Price Analysis: 30 November

Tuesday 01 December 2020, 2:17 AM AEST - 1 month ago

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.

Bitcoin Cash [BCH] PA-4-BCHUSDT-1.pngSource: BCH/USDT on TradingView

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 [SNX] PA-4-SNXUSDT-2.pngSource: SNX/USDT on TradingView

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 ...

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