Cryptocurrency

Bitcoin Cash, Tron, MANA Price Analysis: 15 May

As the broader market crashed all the way in which right down to the $1.2T-mark over the past week, HODLers have been making an attempt to stall the sell-off state of affairs. But, they nonetheless have to inject increased volumes to sustainably modify the broader outlook of their favor. 

Bitcoin Cash, Tron, and MANA registered an uptick of their positive aspects as they clawed again up from their 12 May lows.  

Bitcoin Cash (BCH)

Source: TradingView, BCH/USDT

In its earlier bullish endeavour, BCH claimed a spot above the five-month trendline resistance (white, earlier help). Alas, after the initiation of the market-wide droop section, the bearish pull has dragged BCH to its file lows over the previous few days.

Further, the $346-resistance paved the way in which for a 54.58% drop that propelled a plunge towards its two-year low on 12 May. The latest revival has discovered obstructions close to its Point of Control (POC, purple), providing excessive liquidity within the $212-zone. A persuasive shut above the 20 EMA (inexperienced) would heighten the possibilities of a break above the POC. 

At press time, BCH was buying and selling at $210. After drifting close to its oversold lows, the RSI entered into compression within the 38-50 vary. As the bulls proceed making an attempt to snap the equilibrium, any shut past the 50-mark would affirm an uptick in shopping for energy.

Tron (TRX)

1652622144 565 Bitcoin Cash Tron MANA Price Analysis 15 May

Source: TradingView, TRX/USDT

Since taking off from the $0.06-zone, TRX noticed exceptional positive aspects whereas snapping a number of Fibonacci hurdles on its method up. Higher lows alongside persistent highs past the 50% Fibonacci degree bagged in a much-needed yield for the altcoin.

The $0.08-level represented a confluence of its multi-week trendline resistance (yellow, dashed) and the 61.8% Fibonacci degree. As a consequence, the worth motion tumbled right down to retest the $0.06-mark. 

Since this drop, TRX has struggled to discover a sustained shut above the premise line (inexperienced) of the Bollinger Bands. At press time, TRX was buying and selling at $0.0693, down by 6.42% within the final 24 hours.

Decentraland (MANA)

1652622144 501 Bitcoin Cash Tron MANA Price Analysis 15 May

Source: TradingView, MANA/USDT

After inception this yr, MANA was on a gradual development trajectory to interrupt the shackles of the $2-zone. But the bears didn’t tag together with the bullish narrative as they pulled off a number of sell-offs since early April.

The fall beneath the $1.3-mark led to a swift decline towards the $0.7-baseline whereas MANA poked its seven-month low on 12 May. The latest bounce-back helped the alt’s 20 EMA (purple) lastly ditch its southbound journey and look upwards.

At press time, MANA was buying and selling at $0.0. The alt’s RSI sustained itself above the mid-line whereas testing the 63-mark a number of instances. The CMF projected shopping for vigor because it jumped above the zero line. Owing to the upper peaks over the previous few hours, CMF marked a bearish divergence with the worth.

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