Bitcoin Cash, MATIC, SUSHI Price Analysis: 25 November


The broader market finally showed signs of a comeback as several cryptos traded in the green zone in the last 24 hours. As a result, Bitcoin Cash and MATIC registered double-digit gains after touching their multi-week lows on 18 November. 

However, SUSHI Continued with its downturn while its bulls failed to show any revival signs.

Bitcoin Cash (BCH)

Source: TradingView, BCH/USDT

After a 46.9% October and early November rally, the altcoin touched its nine-week high on 10 November. However, the bears showed resistance at the upper channel. They initiated a 25.8% retracement as BCH hit its three-week low on 18 November. 

The altcoin showed robust revival signs as it recovered from the slump. Over the past week, BCH bulls ensured support at the $553-mark. Also, they initiated an upswing on increasing trading volumes. This rally triggered an over 15% incline since 18 November. Consequently, the price traded above its 4-hour 20-50-200 SMA at $626.6. 

Now, the near-term technicals displayed a bullish preference. The RSI stood strong in the overbought region. Further, the DMI confirmed the bullish vigor while the AO noted higher peaks on its histogram.

MATIC

Source: TradingView, MATIC/USDT

Like most cryptos, MATIC witnessed a staggering October. The digital token grew by over 85% from 12 October to 29 October. As a result, the price poked its 5-month high on 29 October. After which, the bears showed sustained resistance at $2.093 as the price withdrew.

Over the next month, the token lost over one-third of its value while the price traversed in a down channel (white). As a result, the price touched its one-month low on 18 November. 

However, over the past week, MATIC saw a promising comeback. At press time, MATIC traded at $1.786 after noting a 21.5% gain over the last week. The RSI was above the middle line in the display of a powerful bullish influence. Also, AO readings visibly favored the buying pressure. Nevertheless, the ADX displayed a slightly weak directional trend.

SushiSwap (SUSHI)

Source: TradingView, SUSHI/USDT

Sine 23 September, the SUSHI’s price action undertook a bullish trajectory as the price bounced between the two parallel lines heading north. The digital currency noted a 31.92% ROI from 23 September to 2 November. Consequently, SUSHI reached its seven-week high on 2 November.

Since then, however, the altcoin consistently downturned as it saw a steep plunge after the bulls lost their ground. This downfall led the price action to touch its four-month low on 25 November. The altcoin saw a 4.43% decline in 24 hours as technicals hinted at increased selling strength in the near term. At press time, MATIC traded at $7.9. 

The RSI stood at the 35-mark and showed no revival signs. Also, DMI visibly chose the sellers and also displayed a high directional trend. Additionally, AO reaffirmed the previous observations by flashing red signals.



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