MATIC, Avalanche, Bitcoin Cash Price Analysis – December 10


The crypto spectrum sustains its bearishness after the slight recovery phase. Alternative coins such as MATIC, BCH, and AVAX lost more than 4% within the last 24 hours. Avalanche and Bitcoin Cash displayed feeble technical indicators following bearish flags on the 4hr price charts. Also, MATIC entered the short-term bearish craze after touching a 6-moth peak on December 8.

MATIC

MATIC has been inclining since November 19. The altcoin oscillated within an upward channel. Though it witnessed a considerable drop on December 3, bulls stepped up within no time. MATIC recorded an impressive upturn after breaking out of a double-bottom.


Polygon experienced a whopping 51.82% ROI from December 6 low until poking a 6-month peak on December 8. That had MATIC breaching a 6-month-long resistance market at $2.22. Nevertheless, the coin lost more than 16% of its value within the past 48 hours as bears controlled the market. While publishing this article, MATIC trades near $2.13.

The Relative Strength Index secured support around the 42-level and appeared weak beneath the midline. Moreover, the OBV presented dropping buying pressure. Though the MACD lines stood beyond the equilibrium, the flashed bearish influence. Also, the ADZ showed fragile directional trends.

Bitcoin Cash

Bitcoin Cash sustained downswings after creating a bearish flag. As a result, the altcoin dropped more than 4.2% within the last 24 hours. This plunge has BCH price under the 20, 50, and 200 Simple Moving Average, confirming a massive selling strength.

BCH maintained a downward move to form a descending triangle on the 4Hr chart. That came after the alt recorded a 13.7% downward-channel break on November 24. Increased bearish momentum overpowered bulls as they failed to keep the 2-month resistance at $544.

While publishing this content, Bitcoin Cash trades at $453.6. The Relative Strength Index showed weak signs as its struggles to maintain beyond the half-line for fourteen days. Moreover, the DMI flashed bearish preference as the Awesome Oscillator dropped under the zero-line, reaffirming previous conclusions.

Avalanche

AVAX slackened persistently after touching an ATH on November 21. Since then, Avalanched has seen a more than 48% plunge until poking the 1-month low on December 3. The altcoin printed a bearish flag last week after an upward-channel breakout. With that, bears breached footholds, pushing AVAX under the 4Hr 20, 50, and 200 Simple Moving Average.


While publishing these updates, Avalanche traded near $85.94 following a 5.95% drop over the past day. The RSI remained southbound after a massive obstacle around the half-line. Moreover, the Awesome Oscillator displayed red signals while oscillating beneath the zero line.