Bitcoin Cash, Polkadot, OMG Network Price Analysis: January 07

Bitcoin Cash recorded a bearish divergence and was likely to test the $414 support level over the next few trading sessions. Polkadot was likely to see a break above $10.5 to reach $11.5, provided it did not lose the $9.5 region in the next few hours. OMG Network was strongly bullish, but could see a pullback to $3.49.

bitcoin money [BCH]

Source: BCH/USDT on TradingView

Bitcoin Cash noted a bearish divergence between price and momentum as it approached the $460 resistance level. The trading volume was moderate and the Stochastic RSI also flashed of overbought.

The last trading session saw BCH post some losses, making it likely that BCH could see a move towards the support at $414 over the next few hours.

However, this move would only be a setback, as the trend behind BCH was bullish and further gains can be expected over the next few days.

Peas [DOT]

Bitcoin Cash, Polkadot, OMG Network Price Analysis: January 07

Source: DOT/USDT on TradingView

The DOT appeared to form an ascending triangle on the charts, a bullish pattern that highlighted an upside breakout. A trading session that closed below $9.51 would invalidate this idea.

the VOB noted strong buying volume behind recent DOT gains and trading volume was high, although bullish momentum has slowed.

A close above the pattern would confirm a breakout while a close below $9.51 would imply that $9 could be tested over the next few days.

The outlook for DOT was bullish and a move towards $9 will only be seen as a pullback.

OMG Network [OMG]

Bitcoin Cash, Polkadot, OMG Network Price Analysis: January 07

Source: OMG/USD on TradingView

The 20 SMA (white) on the 4-hour chart was racing to catch up to the strongly bullish OMG. Several resistance levels have moved towards support over the past week, but a minor pullback also seemed to be on the cards.

In the short term, the $4 level was of interest to both bulls and bears. The selling pressure pushed the price back as it attempted to break above $3.9 in the past 24 hours.

the MACD showed that the bullish momentum was still there, but had slowed. Over the next few hours, the $3.7 and $3.49 levels will be of interest to the bulls.