Bitcoin Cash, EOS, DASH Price Analysis: 09 June
The larger digital asset space has been quiet over the past few days, with most of the market’s major altcoins taking a leaf out of Bitcoin’s book to sustain their consolidation at a higher range. With many of these crypto-assets failing to make an impact, the trend likewise hinted at subdued levels of volatility in the short-term.
Bitcoin Cash [BCH]
The plot for Bitcoin Cash has been the same for the past month. Since the crypto-asset underwent its first halving, nothing major has transpired in Bitcoin Cash’s ecosystem. The token continued to hold its 5th position on the charts with a market cap of $4.66 billion, while noting a decent trading volume of $2.18 billion as well. As observed on the charts, BCH’s price had been moving strictly between $254 and $251 for the past 36 hours, registering a minor decline of 0.70 percent over the last 24-hours.
The Bollinger Bands were perfectly parallel to each other, indicative of a stable market. Further, the Relative Strength Index or RSI also remained extremely neutral between the buying pressure and selling pressure.
Ironically, without being too relevant in the space, Bitcoin Cash, alongside Bitcoin SV, has noted better returns than Bitcoin in terms of price percentage increase. In fact, Bitcoin Cash’s percentage increase was 14% higher than Bitcoin’s.
The crypto-asset, once 5th in the rankings 6 months ago, has suffered a steady decline since then, with EOS now ranked 9th on the charts with a market cap of $2.57 billion. With a trading volume of $933 million, the token also noted a minor decline of -0.88 percent over 24-hours.
With a descending channel on the charts, the crypto-asset could be looking at a bullish breakout. However, the Parabolic SAR pointed towards a bearish trend for the token, while the Chaikin Money Flow or CMF remained somewhat neutral on the charts.
Finally, Dash continued to enter and exit the top-20 list. With a market cap of $740 million, Dash was back being placed 21st, with Ethereum Classic sneaking its way into the top-20. In fact, ETC’s market cap was a good $50 million ahead as well, an indication of further consolidation at this stage.
However, unlike other altcoins, Dash continued to project some optimism. Its symmetrical triangle was back with a bullish indication from the Parabolic SAR as the dotted markers hovered under the price candles.
The MACD also remained bullish as the blue line continued to mediate above the orange line, hence, Dash might make another attempt to break into the top-20.
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