Ethereum, Tezos, Bitcoin Cash Technical Analysis on 23rd September 2020

Yesterday’s setback triggered the fall of prominent cryptocurrencies. Recovering from yesterday’s hit, a few coins were seen turning green. However, a few others have stayed in the red zone. The overall market cap of the industry witnessed a dainty surge as it was recorded at $328.54 billion. Bitcoin prolonged its dominance on the crypto-verse by 58.5%, while its price was noted at $10,404.

Ethereum [ETH]

ETH fell under the crypto spotlight after it finally pushed past $400. However, ETH was seen swimming deep in the red sea as its price has been witnessing serious dips. While every other coin was recovering from yesterday’s carnage, ETH continued to lounge their as it was dropping by 3.05%. At the time of writing, the second largest coin was trading at $334.56.

ETH recently fell below a prominent level of support at $375.02 and continued to further plummet down to the $330 zone. Indicators suggest that the altcoin could continue its journey downhill. Relative Strength Index [RSI] highlighted strong sellers sentiment as the RSI marker stood below 50 median, specifically at 35.54 median. Awesome Oscillator formed red closing bars indicating the presence of bears in the market.

Tezos [XTZ]

After a huge spike in August, XTZ drifted earthward. With a market cap of $1.53 billion, Tezos stands as the seventeenth-largest cryptocurrency. During the time of writing, the altcoin was trading at a low of $2.05 with a price change of 0.47% in the last 24-hours.

It seems like XTZ needs to prep for a fall as key indicators were seen siding the bears. Forming dotted lines above the candlesticks, the Parabolic SAR indicator hindered an upward breakout. The Chaikin Money Flow indicator revealed that the XTZ market was getting cozy with the bears and the marker was way below 0.

Bitcoin Cash [BCH]

Bitcoin Cash finally overpowered DOT and took over as the fifth-largest cryptocurrency with a market cap of $4 billion. While several coins were plummeting, BCH was seen increasing by 1.12%. During the time of writing, the altcoin was seen trading at $216.

After enduring a sideways movement throughout September, BCH recorded a massive slump, recently. Seems like BCH is looking forward to residing with the bears as the MACD indicator recently underwent a bearish crossover. The Klinger Oscillator also exhibited a bearish crossover. These indicators further revealed that the bears were reigning the BCH market.