- Bitcoin cash price building higher highs and lower low pattern, which indicates bullish nature over the yearly chart
- BCH resume its bullish momentum, as trading above all the major moving averages of 20,50,100 and 200-DMA
- The pair of BCH/BTC is trading above 20,50 and 100-DMA, CMP trading flat at 0.01273 BTC with intraday gain of +0.41%
Bitcoin cash price over the yearly chart is now heading towards the minor resistance level of $890, the breakout above $890 will push it towards the range of $900-$1200. Likewise over the yearly chart BCH has built up a higher high and lower low pattern indicating its bullish momentum. While the coin is successfully trading above all major moving averages of 20,50,100 and 200-Day. similarly volume is also supportive over the weekly chart. Support over the weekly chart is placed at $560 and $490, meanwhile resistance on the higher side is situated at $890 and $1220.
Bitcoin cash price over the daily chart is successfully placed above 20,50,100 and 200-DMA, creating higher high and lower patterns now. However, the indicators over the daily chart is in favour of bears, as some indicators show strong divergence with rising price. Volume is not supportive over the daily chart, meanwhile resistance of higher side is situated at $890 and $1080. Support on lower levels is placed at $610 and $540. Currently BCH is trading at $814 with minor intraday loss of -0.89%, volume traded in the last 24-hour increased nearly +1.39% standing at $6,086,030,396. The market capitalization dropped nearly -0.97% standing at $15,223,607,982.
Relative Strength Index (BULLISH) indicates bearish momentum while trading at 74.62. However, after testing the overbought zone it is now heading towards the oversold zone indicates profit taking can come in upcoming trading sessions.
Moving Average Convergence Divergence (BULLISH) currently indicates a bullish trend on the daily chart, as it is trading with the significance of the buyer’s signal line (green) over the seller’s line (red). However, a negative crossover is expected which can generate bearish momentum.
Support levels: $560 and $490
Resistance levels: $890 and $1220