Solana, Bitcoin Cash, EOS Price Analysis: 26 January


 221 total views

As the bulls clawed back to reopen a recovery window, Solana crossed its 20 EMA but pulled back from its 25 EMA. Its 4-hour RSI still needed to close above the midline to confirm a strong reversal. 

Moreover, Bitcoin Cash and EOS’ RSI crossed the equilibrium. But they needed to inject more volumes to display a bullish comeback possibility. 

Solana (SOL)

Source: TradingView, SOL/USD

Losing the $167-mark was menacing for SOL bulls while the bears kept exerting sustained pressure. On top of it, the 21 January sell-off led to alt to lose the $132-level as it registered a 43.79% loss. 

Thus, it fell below all its EMA ribbons and marched toward its five-month low on 24 January. Since then, the alt saw an over 19% recovery that found resistance at the 25 EMA. 

At press time, the alt traded at $96.74. After plunging to its record low, the RSI upturned from the oversold territory. It surged by over 30 points to cross the 43-mark level. But it still faced a strong barrier at the half-line. Also, the gap between the +DI and -DI has significantly improved, SOL broke out of the down-channel. It still needed to see a bullish crossover for further recovery.

Bitcoin Cash (BCH)

Source: TradingView, BCH/USDT

as the sellers initiated two major sell-offs since 5 January, bulls lost their vigor, and with it, the $419-mark. They upheld this mark for over a year before a 39.33% retracement (from 5 January). As a result, it hit its 13-month low on 24 January. Now, the immediate testing grounds for the bulls stood at the $302-level.

At press time, BCH was trading at $301.4. The RSI was northbound after recovering from the oversold region. After crossing the vital 43-mark, it tested the half-line at the time of writing. A sustained close above 50 will help challenge the $302 barrier.

Also, the CMF closed above the zero line, hinting at increased money volumes. However, the Volume Oscillator took a downturn during the last few hours. This reading pointed at a rather weak bull move so far. 


Source: TradingView, EOS/USDT

Since facing resistance at the $2.9-level, the alt has aggressively declined. The down-channel (white) breakout was short-lived with the broader fallout as EOS marked a 30.41% decline and touched its 22-month low on 24 January. Also, the immediate testing point for the bulls continued to stand at the $2.28-mark

At press time, EOS traded at $2.28. The RSI undeniable showed improvement signs but seemed to stall near the half-line. Now, it flashed slightly neutral tendencies. Further, the AO asserted a position of decreasing bearish influence. However, like BCH, the Volume Oscillator plunged during the recent gains, revealing a weak bullish motion.

Adblock test (Why?)

Disclaimer: does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision.