Altcoins such as Bitcoin Cash, Terra and Binance Coin experienced a revival due to a significant increase in purchasing power. The coins have largely consolidated in the past 24 hours. BCH was aiming for its next resistance while BNB saw a slight 0.3% gain. On the other hand, LUNA secured a rally and was about to hit a new multi-week high.
Bitcoin Cash (BCH)
Bitcoin Cash consolidated at $ 548.66 after rising significantly since the beginning of this month. The immediate resistance for the coin was $ 554.37 and then $ 598.80. With buying pressure continuing, the other additional level of resistance was $ 694.84.
As already mentioned, the buying pressure has increased significantly since the beginning of October. the Relative Strength Index fell back from overbought territory and was near the 60 mark; which indicates the presence of buyers in the market.
the Great oscillator also shown green signal bars. Bollinger bands signals the presence of price volatility as the bands were wide. Falling below current price levels, caused by easing buying pressure, could push BCH to $ 503.64 and then to $ 476.93.
Terra was up 14.90% in the past 24 hours to trade at $ 43. The immediate overhead resistance was $ 45.44. The last time this price moved in this region was last month. The technical data indicated upward trends as LUNA made sizeable gains over the past 72 hours.
the Relative Strength Index near the 60 mark, suggesting that purchasing power in the market has been sizeable. Great oscillator shown growing green signal bars while MACD green bars continued to blink in his histogram.
A corrective decline would lower LUNA initially to $ 38.27, below which it will find support at $ 32.89 and $ 29.01, respectively could. The other floor price was $ 25.32.
Binance Coin (BNB)
Binance Coin traded sideways at $ 423.50 after rising slightly by 0.3% the previous day. Prices have rebounded as buyers re-emerged in the market since late last month. The price cap was $ 466 and then $ 505.90; BNB last reached this level several weeks ago.
On the four-hour chart, BNB price was above the 20 SMA line, suggesting that the price momentum belongs to buyers. the Relative Strength Index mirrored the same when it was near the 60 mark. Conversely, one has been in the red since the last trading sessions Great oscillator and MACD started to show bear market.
In the confirmed downward move, the lower bounds were $ 416.40 and $ 386.80, respectively. The next level of support was at $ 351.70.