Even though market leaders Bitcoin and Ethereum were still limited at the time of going to press, some altcoins found their way into a largely calm market and saw gains on their respective charts. This was also the case with Bitcoin Cash and Enjin Coin, the latter trading at its all time high.
On the contrary, IOTA was much more reserved in its movement, the alt awaiting other clues from the larger market.
Bitcoin Cash [BCH]
The appearance of three consecutive green candlesticks on the Bitcoin Cash daily chart underscored strong strong bullish feelings after the crypto price rebounded from the $ 460.75 support. A jump of more than 6% in the past 24 hours has also seen BCH regain its position as the 10th largest cryptocurrency with a market cap of $ 9.9 billion. The gains also come on the back of healthy trading volumes, with the same tally at $ 4.6 billion, at the time of writing.
The Stochastic RSI fostered a bullish outlook after a bullish cross in the oversold zone. The Awesome Swungra showed some poise but registered a single green bar as momentum shifted to the buy side. The overhead resistance at $ 579.7 presented the next challenge for the bulls.
Bulls in the IOTA market kept the price above the $ 1.12 support, but earnings were also capped at the $ 1.25 level. Short candlesticks on the hourly IOTA charts underscored that buyers and sellers were broadly in agreement with the price. The ADX indicator pointed out the absence of a strong trend in the market.
The MACD supported market buyers as price moved towards its immediate resistance level. However, most of the wider market seemed to anticipate stronger signals from market leaders, and so was IOTA.
Against the general market trend, Enjin Coin has jumped over 15% in the past 24 hours and is trading at record highs, at the time of writing. Its value over the past week has jumped 85% after the crypto asset rebounded sharply from the $ 0.475 support. Even though 24-hour trading volumes were below $ 1 billion, a 150% jump indicated that interest in the asset was picking up quickly in the market.
The Parabolic SAR the dotted markers moved below the candlesticks as the uptrend remained intact after a slight pullback. The RSI was bypassing the overbought zone and further gains may be on hold for ENJ before a possible correction.
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