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Bitcoin Cash, EOS, Dash Price Analysis: 17 November

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Source: Pixabay

Bitcoin’s performance could positively influence Bitcoin Cash, which has posted a series of lower highs in the past week. EOS retraced most of its downward move from earlier this month, while Dash formed a bull flag and could be poised to test a level of resistance soon.

Bitcoin Cash [BCH]

Bitcoin Cash, EOS, Dash Price Analysis: 17 November

Source: BCH/USDT on TradingView

Bitcoin Cash was trading within a descending channel (white). It dipped as low as $238, but buyers immediately stepped in to drive the price back above support at $245.

BCH was valued at $251 at press time and headed toward the upper boundary of the channel. The RSI has been below 50 in the past couple of days and indicated a downtrend in progress.

However, recent bullish sentiment toward Bitcoin could work in BCH’s favor. As long as Bitcoin didn’t witness a drop, BCH could break out of the channel and head toward resistance at $265.

EOS

Bitcoin Cash, EOS, Dash Price Analysis: 17 November

Source: EOS/USDT on TradingView

EOS reacted positively at the resistance levels at $2.53 and $2.59, breaking above the resistance level on a session with good trading volume.

The MACD also indicated a strong bullish momentum. Using the Fibonacci Retracement levels, it can be seen that EOS has retraced most of its drop from $2.75 to $2.22 a couple of weeks ago.

A close above the $2.72 resistance for EOS could see some consolidation before another leg upward to $2.84.

Dash [DASH]

Bitcoin Cash, EOS, Dash Price Analysis: 17 November

Source: DASH/USDT on TradingView

Dash formed a bull flag, with the flagpole (orange) and the flag (white) shown on the charts. This projected a target of $84 for the crypto asset, which is also a level of resistance and would be a good position to exit from a long trade.

The OBV legitimized DASH’s recent gains, as it formed a series of higher lows to indicate strong buying volume.

A minor pullback can be expected at resistance before another move upward for DASH in the next few trading sessions.

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Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.