Dogecoin, Avalanche, Bitcoin Cash Price Analysis: December 25

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Dogecoin showed promising reversal signs as it broke through the $ 0.182 mark, showing strong bullish influence. Avalanche fell below the 23.6% Fibonacci level but managed to form a bullish divergence on its 4 hour chart.

On the flip side, Bitcoin cash recovered short-term support of $ 446 but did not show a strong directional trend.

Dogecoin (DOGE)

TradingView, DOGE / USD

In the past day, DOGE bulls tested twice the $ 0.1826 mark after breaking through Fibonacci resistance at 23.6%. The bulls apparently gained strength as the alt saw a five-day gain of 18.3% (from the Dec 20 low). This rally marked a bullish (yellow) channel on its 4-hour chart.

DOGE continued to find lower channel support that matched the 200-SMA (green). Now the meme-coin has tested the $ 0.1919 mark (three week resistance) and has seen a slight pullback. Trading volumes and OBV saw a corresponding spike, hinting at a healthy trend reversal.

At time of printing, DOGE was trading at $ 0.1914. The RSI touched the overbought region for the third time in the past two days, showing a strong bullish influence.

The Squeeze Momentum indicator flashed gray dots, hinting at a phase of high volatility. Still, keeping in mind the threat of overbought the RSI, there could be a short-term setback.

Avalanche (AVAX)

TradingView, AVAX / USDT

AVAX has delivered a monstrous 52.48% ROI from the Dec 13 low after finding strong support at the golden Fibonacci point.

The digital currency experienced an expected breakout from the rising wedge, but found support at 38.2% Fibonacci. As a result, the alt has seen a V-shaped rally over the past two days, but has seen resistance at $ 126. The bears tested the 23.6% support four times until they finally broke through on December 25.

Any further retracement would find test support at the $ 109 mark, followed by the 38.2% Fibonacci level. At time of printing, AVAX was trading at $ 115.11 after noticing a 6.5% 24-hour loss.

The RSI dipped below the midline after showing weak signs. Also, the volume oscillator has marked lower lows too much. However, the bullish divergence between RSI and price action (white) and Supertrend readings keep AVAX investors hopeful.

Bitcoin Cash (BCH)

TradingView, BCH / USDT

After forming a descending widening wedge (reversal pattern) on its 4-hour chart, the altcoin experienced an expected breakout above the 23.6% Fibonacci level. The Bulls were keen to maintain their position at the 419 mark while the bears retested it several times.

The alt jumped 9.07% (Dec 20 low), but fell from its short-term resistance at $ 461. Now BCH has found support near the 20 SMA (red) at $ 446. Meanwhile, the Supertrend issued a buy signal after a long time.

At time of printing, the alt was trading at $ 450.8. The RSI stood at 56 after showing an uptrend. Moreover, the DMI also showed a bullish preference. But the ADX showed a slightly weak directional trend.

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