Bitcoin Cash is trading below the equilibrium point of the channel between $ 550.2 and $ 507.5. Aave witnessed a collapse from a descending triangle, but awaits confirmation.
Bitcoin Cash (BCH) price analysis
Bitcoin Cash remained in the $ 550.2 and $ 507.5 horizontal channel and although the price has risen in the last 24 hours, it is now below the equilibrium point of this channel. The ADX moves horizontally at 16 and underscores a lack of trend, while the RSI remains at 45. Moving away from this channel will provide strong buy or sell signals depending on the direction of the breakout.
While the $ 600 level offers a target for the bulls, the bears could see support for $ 468.7 in the event of a collapse.
Aave (AAVE) price analysis
Aave saw a breakout for a descending triangle while the price remained steady at $ 336.4 at the time of writing. Retesting the lower trendline may offer some sell positions, but a reversal inside the model will invalidate the breakout. The next few sessions will provide confirmation and the result of the prolonged decline will likely lead to a decline towards the $ 304 support level.
The RSI reversed direction from the lower region and settled just above 30 on the charts. The Awesome Oscillator recorded strong bearish momentum as price moved down the model.