Bitcoin Cash awaited a hike above $645 to initiate a rally, but first had to counter selling pressure.
Interestingly, the SuperTrend Indicator placed a stop-loss at this region and would switch to buy from sell in case of a breakout.
However, momentum was bearish-neutral, according to the Awesome Oscillator, and a breakout did not seem imminent just yet, especially since trading volumes were low across exchanges.
According to the pattern, MATIC was expected to meet with selling pressure at $1.46, but a move above the aforementioned levels could open the doors for a 30% price hike.
There was some bearish momentum on the Awesome Oscillator and the bulls need to defend the lower trendline from a breakdown.
On the plus side, the cryptocurrency remained fairly balanced between buyers and sellers at press time, and the threat of another breakdown seemed unlikely.
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice.