Bitcoin Cash witnessed the most active trading during the crash in March at the peak of the Coronavirus pandemic. Since then, BCHUSD is in consolidation, moving in a rang-bound fashion.
Ripple is, on the other hand, extremely Bearish in the immediate as well as medium term. It failed on the path to recovery multiple times.
Technical analysis of BCHUSD
The four-hour timeframe for Bitcoin Cash shows the Death Cross formation. It was different from BTCUSD as the volumes immediately shot up higher than the average quantity. It signalled a confirmation of the Death Cross.
BCHUSD dropped soon after the formation. Now it has recovered somewhat and is trading around $235.
One crucial aspect to notice from the four-hour chart is the 50-period Simple Moving Average line. It is continually acting as a resistance level, and BCHUSD failed to break it even after multiple attempts.
MACD gave a downward crossover recently. It is a Bearish signal. The 200-period SMA line is much higher than the current traded price of Bitcoin Cash, which indicates BCHUSD is Bearish even in the longer term.
XRPUSD short and medium-term price prediction
Ripple’s short movement appears to undergo further decline. The four-hour XRPUSD timeframe shows that Ripple has continually declined since the past few weeks.
The arrows in the volume trend show that the significantly large candles were all red. It shows that the Bearish momentum in Ripple is much more profound than the Bullish momentum. Every time there was a drop in XRPUSD, people started dumping in enormous numbers.
The 50-period SMA is acting as a dynamic resistance even for Ripple.
The reason Ripple investors are more worried is that XRPUSD failed to consolidate even when most other Altcoins stopped falling.
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