Crypto Comeback Pro is a crypto trading tool for investing in the crypto market with an %88 average win rate on trades and is the #1 trading software for crypto traders from all around the globe in 2022. Try it For FREE Today. (Ad)
The cryptocurrency market witnessed a significant crash within the past few hours. That was due to worsened friction between Ukraine and Russia. The downtrend saw Bitcoin Cash losing 10.87% within the previous 24 hours, hovering around a 15-month support floor.
Moreover, Axie Infinity flipped its 6-moth support level to resistance. Moreover, GALA suffered substantial declines to challenge the Bollinger Bands’ lower limit. For now, the overall crypto market flashes weak signals.
Bitcoin Cash
The recent bearish phase saw BCH on a steep fall, losing the 1-year support of $387. The roughly 38% correction since January 5 had Bitcoin Cash hitting 13-month lows on January 24. Meanwhile, BCH oscillated within the $387 to $260 range over the past month. The latest retracement saw the alt testing the 15-month support floor at around $260. Bulls have to reclaim the $279 value area to kick-start a recovery phase.
While publishing this content, Bitcoin Cash traded around $264.4. The Relative Strength Index plunged into the oversold territory. Further corrections would discover support at the 21-mark. Moreover, the fear sentiment rose as the +DI looked south. Such readings confirmed the short-term bearish actions.
Axie Infinity (AXS)
Steep downtrends had AXS losing many vital levels over the past fourteen days. The token declined by more than 40% since February 7, crushing towards 6-month lows on February 24. That had 20SMA falling beneath the 50SMA AND 200SMA, confirming the massive plummet over the past few days. Any correction from this level would find a testing point at $42.
While publishing this content, AXS traded near $43.349. The Relative Strength Index witnessed a 22-point drop within the previous day, swaying into oversold area. Moreover, the MACD line recorded a bearish cross, confirming the mentioned outlook.
GALA
GALA’s failure to maintain the $0.421 mark saw its bullish vigor fading. The alt remained range-bound after that. Meanwhile, the latest sell-off period pushed the alt beneath the Bollinger Bands mean level. The alternative coin lost more than 44% within the past eight days. That way, it kept hitting the BB’s lower band amid surging bearish pressure. Any price reversals from the level would encounter resistance around $0.23 (near 20SMA/BB mean).
While publishing this content, GALA traded near $0.1969. The Relative Strength Index saw a significant decline towards the oversold area following a concealed bearish divergence. A close past this mark might see it challenging the resistance at 36.
Crypto Comeback Pro is a crypto trading tool for investing in the crypto market with an %88 average win rate on trades and is the #1 trading software for crypto traders from all around the globe in 2022. Try it For FREE Today. (Ad)
