Polkadot, Bitcoin Cash, Avalanche Price Analysis: 19 November
As Bitcoin hit the $57,000-mark, it had a domino impact on the altcoins as most cryptos suppressed. Polkadot and Bitcoin Money had been no exceptions, as they noticed their weekly lows on 18 November. Their near-term technicals, nevertheless, affirm the probabilities of an upturn.
Quite the opposite, Avalanche defied the market tendencies by marking a 22.5% weekly ROI.
Since late September, DOT value motion undertook a gradual rise as the value moved alongside the parallel channel (white). Accordingly, DOT witnessed a 104% rally over the subsequent 35 days to poke its ATH at $55.09 on 4 November.
Nonetheless, DOT bears retaliated as the value noticed an almost 31% correction till it touched its five-week low on 18 November. Over the previous week, the bears exhibited sustained stress as the value fell under its 4-hour 20-50-200 SMA.
Whereas bears ensured resistance on the $43-mark, they tried to push under the $39-mark (speedy help). Consequently, DOT traded at $39.56 at press time. Presently, the near-term technicals agreed with the bearish affect however hinted at its ease.
The RSI displayed revival indicators after standing on the 39-mark. Moreover, the AO and MACD hinted at a attainable restoration if the patrons might collect momentum.
Bitcoin Money (BCH)
Like DOT, BCH upturned since late September as the value oscillated between the parallel channel. It famous a 46.9% ROI from 30 September to 10 November. Because of this, the altcoin touched its nine-week excessive on 10 November.
Nonetheless, the bears confirmed resistance on the higher channel. Consequently, the pullback resulted in a 25.8% retracement BCH hit its three-week low on 18 November. The bears rapidly ruptured the decrease parallel channel and aimed to snap the speedy help at $553.9. Accordingly, the near-term technicals visibly selected the bears. At press time, BCH traded at $559.
The RSI stood weak on the 29-mark pointing northwards. Additional, the DMI confirmed the bearish choice whereas affirming the probabilities of a bullish revival within the close to time period. Furthermore, MACD traces had been on the verge of a bullish crossover and corresponded with earlier readings.
Since 12 October, AVAX undeniably registered hovering beneficial properties by being on a relentless upswing. The digital foreign money greater than doubled its worth from 13 October to 17 November.
Over the previous three days, it witnessed lots of happenings. Avalanche’s founder Emin Gün Sirer announced a partnership with Deloitte for leveraging AVAX blockchain for a venture. Moreover, AVAX acquired listed on Binance.US on 17 November. Accordingly, AVAX famous a 19% three-day ROI and touched its ATH on 17 November.
At press time, the alt traded at $108.4. The RSI was northbound and stood on the 63-mark. Moreover, the MACD and AO visibly most popular the patrons. However, the ADX displayed a weak directional development.