The cryptocurrency market saw slight withdrawal over the last 24 hours as the bullish run entered a retracement phase. With that, Bitcoin Cash, Decentraland, and VeChain saw price drops over the past day. Moreover, short-term technical indicators by these alts depicted plunging buying momentum.
Bitcoin Cash recorded impressive actions for more than one month before steadily ascending inside a parallel channel. The upside price moves led to an almost 26% ROI in 42 days. With that, BCH touched a 9-week peak on November 10. However, bears joined the bullish pressure as price movements gratified trend lines.
Though BCH declined by 2.94% in the 24hrs, it maintained its price briefly past the 4hr 20 Simple Moving Average. That showed bulls’ preference while they extended the support zones. Though short-term technicals attracted buyers, they suggested possible bullish momentum ease. While publishing this crypto news, Bitcoin Cash stands near $678.
The Relative Strength Index remained past the uptrend’s half-line, favoring bullishness. Moreover, the Directional movement Index strengthens the RSI’s price interpretation. Nevertheless, red gestures displayed by the MACD and Awesome Oscillator confirmed the short-term plummeting buying strength.
VET remained poised for an upsurge since October 5. As it oscillated within two parallel levels towards the north, the altcoin experienced a 55.3% surge on the monthly price chart. Meanwhile, VET touched an almost 6-month peak on November 9, hovering at $0.187.However, the alt met retracement in the past 48 hours.
VET suffered a 4.9% plummet over the past day as technicals indicated plunging buying momentum in the short term. While writing these market updates, VE trades under the four-hour 20 Simple Moving Average at $0.1657.
The RSI dropped by nine points and appeared to head northwards, showing declining buying pressure in the short term. Also, the MACD confirmed a similar case, showing selling strength preference. Moreover, the Squeeze Momentum Indicator (SMI) showed back dots, confirming low short-term volatility.
The ETH-powered virtual world’s crypto MANA saw increasing gains since October 28. The alt surged by more than 520% towards an ATH on October 31, near $4.9. MANA has moved south within a declining wedge shape as buying strength cooled since then.
Short-term technicals reiterated a plummeting buying momentum. With that, MANA lost 5.7% in a day to stand at $2.5078. The RSI stayed down around the 40-level, indicating sellers’ preference. Also, the Awesome Oscillator displayed lower peaks while flashing red gestures.