- BCH, after falling from the higher level of $770 and finds support at 20-Day Moving Averages ($440)
- The pair of BCH/BTC is trading at 0.01033 BTC with an intraday loss of -11.45%
Bitcoin cash price is trading on a bearish note as it has broken the 20 and 50-DMA while taking the support of 100-DMA. The major support is situated around $420 and $375, while resistance at the higher levels is $680 and $770. Presently the coin is in a downtrend as the indicators favour bears, and it has already broken the moving averages. After creating the new 52-week high of $770, BCH consolidated between $740 to $670. However, a breakdown is observed, which created a low of $440. For upcoming trading sessions, the crucial support is placed around $420, considered neck or break level.
Over the daily chart, Bitcoin cash has reached inside the oversold zone, where price recovery momentum is expected. Short term support is placed at $440 and $420, while the resistance at the higher side is placed around $580 and $620. Presently BCH is placed at $484 with an intraday loss of -26,33%. Volume traded in the last 24-hour day plumbed nearly -45.30% at $8,716,042,591. Likewise, the total market capitalization stands at $9,090,347,924, with an intraday drop of -25.97%.
Relative Strength Index (Bearish) indicates Bearish momentum while trading at 24.02. However, it is trading inside the oversold zone after correcting from overbought zones. Some bounce is expected from lower levels.
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: $420 and $375
Resistance levels: $680 and $770.
