Following the Bitcoin and Ethereum price action, altcoins such as Bitcoin Cash, NEO and IOTA saw sharp drops on their respective charts. Bitcoin Cash hit its multi-week low of $ 598.80 after falling 13.8%. NEO fell sharply 21.5% as it neared its one-month low of $ 41.16 and IOTA declined 9.2%.
Bitcoin Cash (BCH)
BCH was down 13.8% in the past 24 hours to trade at $ 661.30. The altcoin broke the $ 694.84 floor and approached a four-week low of $ 598.80. Its technical chart indicated a bearish price move.
Relative Strength Index was below the midline as buying pressure was at a two week low. MACD red bars are shown in its histogram. Great oscillator noticeable red signal bars.
In a reverse scenario, the resistance level for BCH was $ 694.84 and then $ 735.05. After beating the price levels above, BCH could hit its all-time high of $ 793.76.
NEO fell 21.5% in 24 hours, trading at $ 48.30. It fell below its support level of $ 49.45 and moved towards $ 41.16; This was the one-month low for the coin. The parameters for the coin remained bearish at the time of writing.
MACD flashed red bars in his histogram and correspondence Great oscillator red signal bars displayed. Chaikin money flow stayed below the half-line as capital inflows declined.
On the flip side, NEO could try to break the $ 56.27 price mark and then hit the multi-month high of $ 65.86 again.
IOTA was trading at $ 1.53 after down 9.2% in the past 24 hours. If it continues to move down, it could trade near the $ 1.34 floor. Failure to hold above the above levels, IOTA could move down to trade at its weekly low of $ 0.956.
On the 4-hour chart, the candlesticks were below the 20 and 50 SMA, suggesting that the coin’s momentum was in favor of the sellers. MACD observed red bars on his histogram. Great oscillator noticed green signal bars after a series of bearish bars as recent trading sessions were in the green.
In the event that IOTA continues to trade in the green, the immediate price level is 1.70 USD. If it fell $ 1.70, it could hit the $ 1.83 level again and then retest its four-month high at $ 2.00.