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You are here: Home / News / Altcoin News / Bitcoin, Bitcoin Cash, Tron Technical Analysis On 21st October 2020
Bitcoin, Bitcoin Cash, Tron Technical Analysis On 21st October 2020

Bitcoin, Bitcoin Cash, Tron Technical Analysis On 21st October 2020

October 21, 2020 by Reena Shaw

The global cryptocurrency market cap rose to $372.8 after an increase of 2.02% over the last 24-hours. This level was last seen in early September of this year. The push can be attributed to Bitcoin’s climb above the coveted level of $12,000. Following its suit was the rest of the cryptocurrency which soon jumped into bullish action.

Bitcoin [BTC]:

btc 5 e1603277510828

Over the past 24-hours, Bitcoin [BTC] rose by 3.98% which catapulted its value to $12,214 as it held a market cap of $226 billion and a 24-hour trading volume of $37.29 billion. Triggered by the latest uptrend, BTC broke a crucial level of resistance at $11,875. This level was last seen in mid-August.

Closely following the price movement, the green closing lines of the Awesome indicator also depicted a bullish momentum. The Chaikin Money Flow was also in the bullish territory depicting a flow of money into the coin market.

If the bulls gain traction, BTC could further breach this level to target its nearest resistance of $12,918 as it support stood firm at $10,506.

Bitcoin Cash [BCH]:

BCH 2 e1603280200174

Bitcoin Cash [BCH] was valued at $253 after a surge of 2.49% over the last day. At the time of writing, the fork coin recorded a market cap of $4.70 billion and a 24-hour trading volume of $2.49 billion. Despite the latest uptrend, its technicals painted an uncertain future. The Klinger Oscillator recently underwent a bearish crossover. The MACD, on the other hand, generated a strong buy signal as it formed a bullish crossover above zero. A move by the MACD into bullish territory can confirm that BCH heading to make more gains.

BCH was trading close to a psychological level of resistance of $255. If the coin manages to break above this level, it could climb to its overhead resistance of $293. However, if a bullish action fails, BCH could spiral back to its support at $209.

Tron [TRX]: 

trx 4 e1603280611109

Tron [TRX] was up by 4.55% over the last 24-hours. The coin was being traded at $0.0266, as it registered a market cap of $1.91 billion and a 24-hour trading volume of $1.73 billion, at the time of writing.

The dotted markers below the candles depicted a bullish phase for the coin as it supported TRX’s price from a further market downturn. The RSI also spiked above the 50-median indicating a rising sentiment of high buying pressure among the traders of the coin market.

This could essentially push the price of TRX higher whose resistance stood at $0.034 while holding support at $0.023

 

Filed Under: Altcoin News, Bitcoin News, News, Tron News Tagged With: Bitcoin Cash (BCH)

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