- Bitcoin cash is trading inside the narrow range between $750-$630; however, it is placed above all the major moving average of 20,50,100 and 200
- The pair of BCH/BTC is trading at days lows with an intraday loss of -2.35%, standing at 0.01214 BTC
Bitcoin Cash Price is consolidating from the last few days inside the narrow range. Presently BCH is trading above all major moving averages, which indicates its positive momentum. However, 20-DMA ($610) can be considered as a support level on the lower side. Likewise, significant support is situated at $600 and $540. Meanwhile, the higher side’s resistance can be considered $770 and $880. Similarly while looking at the volume, which is continuously decreasing, indicating the buyers’ lack of participation.
Bitcoin Cash Price is trading in the parallel channel, decreasing volume over the daily chart. The support on lower levels is placed around $600 and $580. Meanwhile, resistance on the higher side is situated at $700 and $720. Currently, BCH is trading at the price level of $640 with an intraday loss of -7.25%. Volume traded in the last 24-hour period has increased over +5.51%, standing at $6,257,781,569. The total market capitalization stands at $6,257,781,569, with a drop of -8.17%.
The technical indicators favour bears as the candles over the daily chart are making lower highs and lower lows.
Relative Strength Index (Bearish) indicates Bearish momentum while trading at 38.02. However, it is continuously heading towards the oversold zone after testing overbought zones with no recovery sign.
Moving Average Convergence Divergence (Bearish) currently indicates a Bearish trend on the daily chart, as is trading with the significance of the seller’s signal line (red) the buyer’s line (green) with no sign of recovery.
Support levels: $600 and $540
Resistance levels: $770 and $880