BCH’s downtrend looks clearer on the hourly charts as the price creates lower peaks. Dogecoin, on the other hand, moved in a stable channel and is expected to stay above $ 0.0054 in the upcoming sessions.
Dogecoin (DOGE) price analysis
While weekly losses of about 2% seem to be forgivable for Dogecoin, it was a bit bleak compared to their monthly returns of over 500%. What’s more, the 4-hour chart showed Doge-hype on the bearish as the price fell below multiple support lines since ATH.
The Bollinger Bands remained constrained and showed low volatility as the cryptocurrency was fixed at lower levels. Despite the recent downtrend, DOGE has discovered new support levels thanks to the recent uptrend. As the MACD is bullish neutral, we can expect the “joke cryptocurrency” to stay above its current support until a strong uptrend emerges.
Bitcoin Cash (BCH) price analysis
In the daily time frame, Bitcoin Cash appears to be consolidated due to the increase in price action after reaching a local peak above $ 720. However, a downtrend emerged in the hourly time frame as the price formed lower peaks and lower lows in the last few sessions.
The RSI touched the oversold zone as the Awesome Oscillator’s red bars rose below the half line. The current price level may also offer some buying opportunities for traders. The rally could result in BCH approaching the $ 687 resistance.