- Bitcoin cash price has formed an accumulation zone. It can soon break the barrier and reach to $2000
- Technical Indicators suggest a strong bullish move for BCH .Meanwhile BCH/BTC pair is trailing at 0.01979BTC
Bitcoin Cash price is currently seeing a gain of 10.09% while crossing the barrier of $1000. BCH price can face resistance on the upside at $1100. In contrast a bounceback for the can be observed from $900. The price is above 50 and 100 Days Moving Average (MA). The 50MA (Red) line is at the level of $743, making it temporary support for the price. The price is currently in a bullish move and can break the resistance of the past. BCH price can soon reach the level of $2000 in upcoming months.
Bitcoin cash is currently ranked at 12th, with a market capitalization of $22,432,557,535.54.The volume of the coin has increased 65.55% in the intraday session.
TECHNICAL INDICATORS Hints A Bullish Move For BCH Price
Bitcoin cash price is seeing a bullish momentum in the weekly chart. It has also seen an increase of 8.54% in the weekly chart .BCH price has formed an accumulation zone in the daily chart. If the price jumps above the accumulation zone then a rally till $2000 can be seen. If the price reaches below the Moving Average then it would be difficult to reach positive levels. BCH/BTC pair is also on a bullish move with a gain of 14.55%. This pair can also break the previous resistance in the past
The volume indicator is at 8.5K with the hint of lower buying pressure. If the price climbs above $1100, then a buying rush can be observed.
RSI(Bullish): It is currently at 67.58, showcasing its presence in the overbought zone. There is positive slope formation in the RSI, highlighting the price may continue the uptrend. The overall sentiment of the RSI is Bullish.
Bitcoin cash has seen a ROI of 92% since its inception. It has attracted many investors in the past due to its low transaction fee . An investor should do their due diligence before investing..