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BCH, Litecoin in for a short-term downward breakout; VeChain continues upward

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BCH, LTC expect a short-term downward breakout; VeChain continues its bull run

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Bitcoin and several other altcoins saw an uptrend at the start of April. While some continued the trend through the month, others saw short-term downward breakouts. With the start of May, while altcoins BCH and LTC are expecting a short-term downward breakout, VeChain seems to continue its bull run.

Bitcoin Cash

Source: BCH/USD, TradingView

BCH which was on a bull run since the start of April saw a sudden price drop on April 9 and the downtrend continued till April 21. An upward rise began on April 22. Additionally, the price saw a 14% rise on April 28. However, MACD indicator hinted at a potential bearish crossover.

Resistance: $267.54, $274.83, $280.34
Support: $250.02, $237.08, $213,56
Press time price: $262.27
Market Cap: $4,843,836,960
24-hour Trading Volume: $3,536,781,108

Litecoin

Source: LTC/USD, TradingView

The coin has also recorded an uptrend since the start of April and has maintained constant support at $39.56 for weeks. LTC saw an uptrend since April 21, and found the next support at $43.16. The coin recorded a price drop by 8% once it reached $50 but, recovered quickly and reached $49. LTC at the moment has found support at $48.35. CMF indicator rests above the zero line signaling a downward breakout soon and the contracting Bollinger Bands indicates less volatility in the coming days.

Resistance: $50.84
Support: $48.35, $46.40, $43.61, $41.16, $39.56
Press time price: $48.88
Market cap: $3,212,472,467
24-hour Trading Volume: $4,638,177,025

VeChain

Source: VeChain/USD, TradingView

After recording a 62% drop on March 12, VeChain has only seen an upward trend.  The coin recorded another 47% increase from April. Additionally, Awesome Oscillator indicator and the Stoch RSI indicator also hint at a continued upward breakout in the coming days.

Resistance: $0.008, $0.005
Support: $0.003, $0.0025, $0.0022
Press time price: $0.004
Market Cap: $250,860,306
24-hour Trading Volume: $170,105,617

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A Psychology and Journalism graduate, Rakshitha focuses on UK and Indian markets. As a crypto-journalist, her interests lie in blockchain technology adoption across emerging economies.
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