Bitcoin Cash, EOS, Curve Finance Price Analysis: 06 May

ambcrypto.com:

Bitcoin fell by 9% the previous day, and across the altcoin market, short-term bullish setups were mercilessly wrecked. Just when coins like Bitcoin Cash and EOS appeared to break past their respective resistance levels, the intense sell-off forced them to suffer a sharp drop in prices. Curve Finance looked ready to shed more value on the charts.

Source: BCH/USDT on TradingView

Since early January, Bitcoin Cash has traded within a range from $270 to $392. On lower timeframes, $270 and $300 are the most important levels of support and resistance respectively. $276 has also acted as a level of support in the past two weeks, but at press time, this is a resistance level.

The Awesome Oscillator was well below the zero line to reflect the strong bearish momentum of the past few hours, a fall of nearly 8%. The A/D indicator was also on a downtrend, which showed that despite the move upward to $300, the sellers still have the upper hand.

Source: EOS/USDT on TradingView

EOS formed a bearish pennant pattern, a chart pattern that is likely to see another drop in prices for EOS. The next level of support lies at $1.88. In the past week, $2 has acted as support but in the past few hours, the price fell decisively beneath this level and $2 is now a level of resistance.

The RSI on the hourly chart has fallen beneath neutral 50. The market structure has flipped to bearish after breaking beneath $2, and the bearish pennant pattern suggested further downside was likely. However, the OBV managed to climb above the past week’s support, but it was unclear whether the buyers can force a recovery.

Source: CVX/USDT on TradingView

As highlighted on the charts, CVX has seen a period of compression, and upside expansion followed by a steady bleed back