Bitcoin Cash analysis shows possible consolidation, just as Cardano and Stellar may be seeing a reduction in selling pressure
Bitcoin Cash has had some positive news on the business adoption side. Technical analysis also showed that Bitcoin Cash may be in the consolidation phase in the short term. On the Cardano side, sales pressure in the last few days seems to have eased. At Stellar, the bears also looked exhausted in the short term.
Bitcoin Cash [BCH]
Source: BCH / USD on TradingView
The price of Bitcoin Cash seemed to have interrupted his fall at the $ 219 support level. Bollinger bands started to tighten around the price, indicating less volatility.
If Bitcoin Cash consolidates above the amount mentioned for a few days, it could mean a successful defense of support and the BCH may try to rise.
In related news, UK digital bank Ziglu launched point-to-point payment services for fiat currencies and cryptocurrencies, one of which is Bitcoin Cash.
Source: ADA / USDT on TradingView
Cardano was trading above $ 0.08 support. She encountered strong resistance at the $ 0.101 level when she tried to break through the resistance.
CMF showed a value of -0.05, which technically meant that the sellers dominated the market, but the reading was not significant. However, this may indicate that the selling pressure on the ADA has weakened.
If the ADA falls below support, the next level of support is $ 0.077.
Souce: XLM / USD on TradingView
Stellar is ranked 17th in the CoinMarketCap, with a capitalization of $ 1.6 billion. It had a turnover of $ 163 million in 24 hours, less than the daily average for the past 10 days.
The reduction in turnover may indicate a period of consolidation for XLM. In the last few days, we see that the XLM had many trading sessions with volume below average. As highlighted by the cyan arrow, XLM retreated towards support, but did not see significant trading volume, indicating possible sellout exhaustion.