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The altcoin the markets saw considerable gains achieved in a short amount of time, and it was likely that you would see greener. Bitcoin Cash and Ethereum Classic have broken through strong historical resistance levels, while Aave could be set for a period of consolidation.
Bitcoin Cash [BCH]
Source: BCH / USDT on TradingView
The RSI was in overbought territory, but this does not require an immediate drop in the price of an asset. However, he indicated that the rise of BCH was limited in the short term and we can expect a pullback.
The stochastic RSI was also rising, and overall, it can be concluded that BCH would likely test the resistance at $ 353 and see a pullback. It could fall to find the $ 326 level before another upward move.
Aave [AAVE]
Source: AAVE / USDT on TradingView
AAVE found good support at the 23.6% retracement level of its $ 25.9 to $ 82.48 rise.
The MACD was below the zero line to denote bearish momentum, but had formed a bullish crossover to generate a weak buy signal.
The trading volume has been trending down in the past few days. This indicated a period of consolidation above $ 66 for AAVE, or a possible minor drop to a lower support level in the coming days.
Ethereum Classic [ETC]
Source: ETC / USDT on TradingView
Ethereum Classic has spent the past two months trading within the $ 4.8 and $ 5.6 levels and saw a price breakout last week.
This was followed but a rally beyond the resistance levels at $ 6.42 and $ 7. The Awesome Oscillator showed a bearish double-peak pattern and the price dropped to $ 5.8 before a recovery.
Sentiment in the altcoin market was strongly bullish, and ETC may be well on its way to test the resistance at $ 7.5 in the next trading sessions.
There may also be a new test of support at $ 7, but would probably be followed by an upward movement.
