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Price Analysis: Bitcoin Cash, MATIC and ZCash – July 11

Bitcoin Cash, MATIC and Zcash trading volumes have fallen by 34.07%, 32.02% and 3.17% respectively in the last 24 hours. BCH has not noticed any sizable price movement in recent days. MATIC was in a downtrend despite some buying pressure. Finally, Zcash registered some market weakness.

Bitcoin Cash [BCH]

BCH / USD, TradingView

BCH was trading sideways despite undergoing price corrections on June 23rd. The token has been moving aimlessly for the past few weeks. So far, Bitcoin Cash was moving to find that its base was at the crucial $475 support level. So far, altcoin was trading at $495.87. Its value has dropped 0.5% and consistent movement along the same pattern should push the price down to $475 soon.

Mixed signals were seen on the Awesome Oscillator, with red signal bars popping up intermittently due to bearish trading sessions between bullish trading sessions. Buying pressure has increased slightly at the time of this writing as the Relative Strength Index has seen a small rise.

A bullish cross was observed on the 9th of July, after which short-term bullish momentum was observed in the MACD indicator. However, bullish momentum has started to wane as of press time. Overall, no significant momentum was detected for the BCH.

MATIC

Bitcoin Cash, MATIC and ZCash Price Analysis: July 11

MATIC / USD, TradingView

After some movement within a range, market prices pushed the MATIC price below its crucial support level of 1.03. The price ranged between $1.03 and $1.02. This marked an 8% drop in price last week. MATIC’s trading volume also had a significant drop on the charts.

Selling pressure has emerged in recent days. However, as the price did not change in the last 24 hours, the bulls again bought the token. The Relative Strength Index portrayed a small increase in buying pressure at the time of writing. In correspondence with the buying pressure, Chaikin Money Flow also registered an increase in capital inflows.

With the price falling since yesterday, the Parabolic SAR showed that the dotted lines were above price levels, a finding that confirmed a bearish trend on the charts.

Zcash [ZEC]

Bitcoin Cash, MATIC and ZCash Price Analysis: July 11

ZEC / USD, TradingView

After the price rebound on June 23, ZEC prices consolidated between the support and resistance levels of $110 and $131. However, so far, the currency has been trading below the $110 support level. The ZEC was quoted at $109.19 and if bulls do not gain strength it could drop to the support level of $93.53.

The dotted lines of the Parabolic SAR were visible below the candlesticks, a sign of an uptrend. The Bollinger Bands sent a different signal, however, as the indicator contracted and pointed to low market volatility. If the price goes up, the next resistance level for the ZEC would be $131.

The average directional index affirmed the trendless alt price action as the indicator remained below the 20 mark at the time of writing.

Source: AMBCrypto

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