The overall crypto market gradually moves northwards as buying pressure emerges. Verge, AAVE, and Bitcoin Cash followed the upside trend. BCH gained 3.7% and has not overcome its nearest price ceiling. AAVE maintained its actions over its closest support area and indicated consolidation signals after the 1.9% increase. At the same time, Verge saw price appreciation despite its technical indicators suggesting a bearish outlook.
Bitcoin Cash (BCH)
Bitcoin Cash recorded upswings as the total crypto indicated strength momentum. The alternative coin gained 3.7% in the past 24 hours to trade at $421.04. For now, it has its resistance at $529.06, then $578.56.
With amplified upticks, Bitcoin Cash will have its additional resistance level at $608.74, then its 1-week peak at $672.68. Most of the alt’s parameters indicated positive price actions as the market sees buying pressure resurgence.
Moving Average Convergence Divergence (MACD) showed emerging green bars on the histogram, signifying price reversals. The Relative Strength Index climbed from the 25-level, nearing the half-line to suggest decreased selling pressure.
If Bitcoin Cash records buying momentum beneath the half-line, the asset might see its value dropping towards the support at $504.63, then the multi-month plunge at $482.99.
AAVE gained around 1.9% in the past 24 hours before encountering consolidations in the past sessions. The token trades at $281.8, with its following resistance level standing at $302.90. Additional resistance sits at $338.3, then $375.4. Meanwhile, indicators show a revival in AAVE value.
Chaikin Money Flow stayed beyond the mid-line, suggesting positive capital inflows. Also, Awesome Oscillator indicated red bars shrinking in the past sessions. The RSI climbed high towards the 50-level as buying pressure appeared to resurface.
If AAVE gains upside momentum, it might need buying activities to shift towards the bullish zone. Meanwhile, maintaining its movements in the bear region might catalyze another price plunge. With that, AAVE will secure support near $271.09, then $249.2.
Verge surged 3.9% to stand at $0.020. However, its technical indicators are yet to reflect price recovery. Also, the primary parameters suggested bearishness. With surges, the coin has its price ceiling at $0.023, then $0.027, the asset’s 1-week peak.
According to the 4hr chart, XVG stayed under the 20 Simple Moving Average, indicating that price drive favored sellers. RSI recorded a climb but remained inside the bearish region. The MACD displayed red histograms, highlighting possible price reversals. Chaikin Money Flow was beyond the half-line, though threatening to decline without increased capital inflows.
If the market fails to clear the bearish case, Verge will have its closest support area between $0.0192 and $0.0170.