Dogecoin showed promising signs of reversal when it crossed the $ 0.182 mark which represents a strong bullish influence. Avalanche experienced a pullback below the 23.6% Fibonacci level, but managed to form a bullish divergence on its 4-hour chart.
On the other hand, Bitcoin Cash recovered the short-term support of $ 446 but did not show a powerful directional trend.
During the past day, the DOGE bulls tested the $ 0.1826 mark twice after crossing the 23.6% Fibonacci resistance. The bulls apparently gained momentum when the alt noted a gain of 18.3% in five days (from the low of Dec. 20). This rally marked an ascending channel (yellow) on its 4-hour chart.
DOGE continued to find support in the lower channel which coincided with the 200-SMA (green). Now, the meme coin tested the $ 0.1919 mark (three-week resistance) and experienced a slight pullback. Trading volumes and OBV saw a corresponding spike, hinting at a healthy trend reversal.
At press time, DOGE was trading at $ 0.1914. The RSI The overbought region emerged for the third time in the past two days, representing a strong bullish influence.
The Press the moment indicator gray dots flashed, hinting at a phase of high volatility. However, considering the overbought RSI threat, it could suffer a short-term setback.
AVAX posted a monster ROI of 52.48% from the December 13 low after finding strong support at the golden Fibonacci point.
The digital currency experienced an expected breakout of the rising wedge, but found support at the Fibonacci mark of 38.2%. As a result, the alt saw a V-shaped rally over the past two days, but saw resistance at the $ 126 mark. The bears tested the 23.6% support four times until finally breaking above it on December 25.
Any further retracement would find test support at the $ 109 mark followed by the 38.2% Fibonacci level. At press time, AVAX was trading at $ 115.11 after noticing a 6.5% loss in 24 hours.
The RSI dipped below the midline after showing weak signs. In addition, the Volume oscillator too marked lower lows. However, the bullish divergence between the RSI and the price action (white) and the Supertendencia The readings keep hope alive for AVAX investors.
Bitcoin Cash (BCH)
After forming a descending widening wedge (reversal pattern) on its 4-hour chart, the altcoin saw an expected breakout above the 23.6% Fibonacci level. The bulls were keen to hold their ground at the 419 mark, while the bears retested it several times.
The alt saw a 9.07% jump (Dec 20 low) but saw a pullback from its short-term resistance at the $ 461 mark. Now, BCH found support near the 20 SMA (red) at the $ 446 mark. Meanwhile, the superstrend showed a buy signal after a long time.
At press time, the alt was trading at $ 450.8. The RSI It stood at the 56 mark after showing an uptrend. In addition, the DMI it also exhibited a bullish bias. But ADX showed a slightly weak directional trend.
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Dogecoin, Avalanche, and Bitcoin Cash Price Analysis – Dec 25