Polkadot, Avalanche, Bitcoin Cash Price Analysis: 17 de diciembre

As the bears deny any attempts at a bullish recovery, Polkadot fell below its multi-month resistance level and hit its five-month low on December 15. Furthermore, Bitcoin Cash formed a reversal pattern as it continued its decline.

Avalanche showed a solid recovery in recent days, but also formed a reversal pattern on its 4-hour chart.

Polkadot (DOT)

The DOT witnessed a bearish flag breakout on December 11 and moved between the parallel lines heading south (green). This drop was the third major pullback since it hit its ATH, which pushed the price below the 15-week resistance at the $ 26.12 mark.

Now the immediate level for the bears to test existed at the $ 24.3 mark prior to any further trend engagement. The alt has aggressively waned after touching his ATH on November 4. As a result, it gravitated to hit its five-month low on December 15.

At press time, the alt was trading 54.5% below its ATH at $ 25.05. DOT RSI It fell below the 40 level, revealing a powerful bearish influence. In addition, the DMI He affirmed the above narrative when choosing the sellers. However, the ADX showed a weak directional trend for the token.

Avalanche (AVAX)

AVAXUSDT 2021 12 17 17 33 52

TradingView, AVAX / USDT

After invalidating its long-term uptrend line (since July), AVAX appeared to extend its downtrend after forming a bearish flag in early December. This drop pushed the price below the $ 87.7 mark when the price hit its five-week low on December 13.

The alt saw a breakout in the descending (white) channel after a jump of more than 37.5% from $ 78 on December 14 to reaching $ 110 (two-week high) on December 16. While the recent developments on its blockchain fueled this leap, formed a ascending wedge (reversal pattern) on its 4-hour chart.

At press time, AVAX was trading above its 20-50-200 senior High School at $ 105.55. The RSI it retested the overbought region twice and plunged towards level 62. Also the MACD he chose the bulls, but hinted at their diminishing power. Considering the reversal pattern and momentum indicators, AVAX could see a short-term pullback.

Bitcoin Cash (BCH)

BCHUSDT 2021 12 17 17 55 04

TradingView, BCH / USDT

After an impressive run in October, the alt marked lower lows in a descending channel (yellow). When BCH saw a breakout of the descending channel of 13.7%, it turned to the downside and formed a bearish flag on its 4-hour chart. Therefore, with the bearish force increasing, the bulls were unable to sustain the 21-week resistance at the $ 470.2 mark.

During the last days, the alt saw a downward broadening wedge (investment pattern). It fell by more than 4.17% in the last 24 hours.

At press time, BCH was trading 88.6% below its ATH at $ 432.8. The RSI He showed weak signals and struggled to cross the half line. He too DMI hinted at a slight bearish preference. But the ADX showed a weak directional trend for the currency.

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Polkadot, Avalanche, Bitcoin Cash Price Analysis: 17 de diciembre

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