Altcoins looking to surf Bitcoin bullish
The BCH has moved below its SMA-200 once again, but bulls are likely to bring down the bear market in the future. XTZ projected a rise to $ 3.42 after the indicators issued bullish signals. BAT could rise above its August 2020 levels if the price moves north by $ 0.427.
Source: BCH / USD, TradingView
Bitcoin Cash fell below its SMA-200 (green) in the 4 hour period, with the price negotiated just above the $ 450 mark. A look at the chart showed that bulls tried to bring down the bear market, as the price has reached higher tops and bottoms since the beginning of February. That is why a rise above the SMA 200 is certainly a possibility in the coming sessions. The bullish move may also offer some strong buying signals, as the SMA-20 (blue) was about to cross the SMA 200.
A favorable result was also supported by a bullish cross in the stochastic RSI. On the other hand, Awesome Oscillator showed that momentum was strong on the bearish side, as the red bars fell below the midline. In the event of a downfall, the $ 418 support may come into focus.
Source: XTZ / USD, TradingView
Tezos bulls were aiming to rise above $ 3.42 after buying activity has increased in recent sessions. Capital inflows were strong, according to Chaikin Money Flow, while trading volumes increased by more than 30%. A bullish cross was also witnessed at MACD.
All of these factors point to a bullish scenario for the advance of XTZ. The next resistance level is found at $ 3.61. On the other hand, a bearish result, although unlikely, could bring XTZ closer to the $ 3.14 support mark.
Basic attention token [BAT]
Source: BAT / USD, TradingView
The bullish momentum on the Basic Attention Token took the cryptocurrency to a local high of $ 0.422 at the time of this writing. The Awesome Oscillator highlighted the strong momentum on the buyers side. A rise above $ 0.427 could cause BAT to exceed its August 2020 levels.
However, the momentum may fade in the coming sessions, after a bearish divergence has been detected in the Relative Strength Index. In the case of a short-term bearish move, a fall below $ 0.32 would be unlikely, given the upward trend in the past 30 days.