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BCH, TRX, EOS Price Analysis — Amidst the Bearish Bitcoin, Altcoins Are Showing Potential

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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While the cryptocurrency market is facing a bearish trend against the US Dollar, some altcoins are showing the growth in correlation to BTC. Most of the top 10 coins are located in the green zone against Bitcoin, except for Ethereum, EOS, Bitcoin SV.

Top 10 coins CMC
Top coins by CoinMarketCap

The rise of altcoins against Bitcoin has also influenced the domination rate of BTC, whose index has dropped by 0.5% and now constitutes 66.1%. 

BCH/BTC

On the 4H chart, the rate of Bitcoin Cash has been declining since the beginning of July, breaking all support levels. 

BCH/BTC 4-hour chart
BCH/BTC chart by TradingView

According to the current situation, the asset is about to enter the recovery phase with a bounceback to 0.035 BTC. The increasing trading volume and bullish MACD indicator confirm the positive tendencies of BCH against Bitcoin. 

The price of BCH is trading at 0.03047 BTC at the time of writing.

TRX/BTC

Tron confirms our recent price analysis, as it is too early to think about the reversal on the long-term perspective.

TRX/BTC 4-hour chart
TRX/BTC chart by TradingView

TRX is not going to change its current trend, and it should expect a further decline. Although there is a rising RSI indicator on the 4H chart, the general market mood remains bearish with an upcoming downtrend to the level of 150 Satoshi. 

The price of TRX is trading at 0.00000228 BTC at the time of writing.

EOS/BTC

The quotes of EOS is trading in a similar pattern to TRX, however, it has lost its position in the global cryptocurrency ranking and now located on the 7th place.

EOS/BTC 4-hour chart
EOS/BTC chart by TradingView

On the 4H chart, EOS does not show any reasons for growth due to the relatively low trading volume. In a short-term scenario, one might expect the coin in the range between 0.00037 BTC and 0.00046 BTC. 

The lines of the MACD indicator confirms such a price movement. 

👉 MUST READ EOS Price Analysis — How Much Might EOS Cost in 2018-25?

The price of EOS is trading at 0.0003893 BTC at the time of writing.

Cover image via www.123rf.com

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at [email protected]

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