At a time when Bitcoin hit the $47,000-mark as a result of a broader market sell-off, Bitcoin Money and Cosmos dived under their long-term helps to poke their multi-month lows.
Furthermore, SAND witnessed over 20% losses however maintained its long-term uptrend.
Bitcoin Money (BCH)
BCH had a formidable run from 30 September till the altcoin touched its nine-week excessive on 10 November. Since then, it began marking decrease lows in a descending channel. After a down-channel breakout on 22 November, BCH frequently fell and fashioned a descending triangle (yellow) in its 4-hour chart.
After retesting the $544-mark help for practically two months, bears had been in a position to invalidate the long-term bullish pattern and switch the tide of their favor. They managed to poke BCH’s 11-month low on 3 December. Consequently, BCH at $448.9 after noting a 20.9% 24-hour loss.
The RSI noticed a steep plunge from the equilibrium degree towards the 15-mark. The bulls can bag on the opportunity of a near-term push as a result of oversold market situation. Additional, the MACD and AO constantly lingered under the half-line for the previous eight days and affirmed a bearish vigor.
After hanging its ATH on 20 September, ATOM has carried out fairly poorly by constantly marking decrease troughs since then. Additional, the bulls tried a rally put up a down-channel breakout, however the bears traditionally confirmed resistance on the $43-mark.
Consequently, the value declined and finally fashioned a descending triangle (yellow). The bulls did not uphold the nine-week resistance on the $30.5-mark put up a descending triangle breakdown.
Over the previous two weeks, ATOM retested the 12-week help at $25.36 thrice. Lastly, after a large sell-off, the bears invalidated the double-bottom (white) and fueled the downtrend.
At press time, ATOM traded at $25.54 after noting a 16.8% 24-hour loss. The RSI undeniably skewed in favor of the sellers, however the bulls maintained the 37.6 near-term RSI help. Additionally, the DMI displayed slackening indicators for the bulls. Now, ATOM would more than likely consolidate between the $30.5 and the $25.3-mark for some time.
The Sandbox (SAND)
SAND rallied in an ascending channel put up a symmetrical triangle breakout. Then, the alt noticed a 315% ROI from 11 November to 25 November. Consequently, the value motion touched its ATH on 25 November.
Nonetheless, since then, the bears retested the $6.03-mark twice earlier than a major droop. This decline led to an up-channel breakdown for the primary time in 19 days. At press time, the alt traded at $5.193 after noting a 20.1% 24-hour loss.
This downturn lastly correlated with the market pattern, not like its earlier rallies. The RSI dipped into the oversold area whereas exhibiting some revival indicators. Additional, the DMI and AO displayed a bearish bias. However the ADX depicted a weak directional pattern.