Cryptocurrency

BCH, ETC and ZEC Price Analysis

Major altcoins including Bitcoin Cash, Ethereum Classic, and Zcash are fighting against downward pressure that has intensified throughout the latest trading cycle. With Bitcoin hovering around $9,400,

By Aubrey Swanson··2 min read
BCH, ETC and ZEC Price Analysis

Key Points

  • Major altcoins including Bitcoin Cash, Ethereum Classic, and Zcash are fighting against downward pressure that has intensified throughout the latest trading cycle.
  • With Bitcoin hovering around $9,400,

Major altcoins including Bitcoin Cash, Ethereum Classic, and Zcash are fighting against downward pressure that has intensified throughout the latest trading cycle. With Bitcoin hovering around $9,400, secondary tokens have similarly faced headwinds during today's European market hours. Below is a technical assessment of Bitcoin Cash, Ethereum Classic, Dogecoin, and Zcash. Over the last couple of days, each of these assets has shadowed Bitcoin's unsuccessful push toward five figures.

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Bitcoin Cash has seen its monthly trajectory stall considerably. Earlier in the period, BCH approached a ceiling near $265, but subsequent weakness pushed the asset through the critical $250 barrier. The erosion continued as the coin dipped beneath its 100-day moving average, a break evident on the four-hour chart as well. Weekend selling took the pair down to test the $225 floor. Now trading just shy of $241 following a volume spike Tuesday that generated upside momentum, Bitcoin Cash climbed to $238.43 before advancing 1.5% to overcome the $239 hurdle. The BCH/USD pair is probing $241 as potential support, with further gains possible if the RSI indicates that bearish dominance is fading.

The situation for Ethereum Classic has grown more precarious. Down 7% across the week, the token changed hands at $6.29 against the dollar. After cracking through $6.39 in support, the next floor appears at $6.25, while sellers must contend with $6.89 overhead. The daily technical picture shows a weakening RSI suggestive of oversold conditions, though the MACD's crossover of its signal line hints at potential reversal. Should buyers maintain the $6.22 level, they preserve their footing.

Zcash stands out for steeper declines among major altcoins. The privacy coin shed 1.43% in today's session alone, having previously lost 8% to reach lows around $48.8. Substantial selling pressure looms between $55 and $58, yet the RSI is flashing constructive signals.

MiningPool content is intended for information and educational purposes only and does not constitute financial, investment, or legal advice.

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