- Bitcoin cash coin is trading under a slightly bearish note while facing the 20-day short-term moving average line rejection.
- The crypto asset over the monthly chart is placed above the 200-DMA line while struggling to hold its 50 and 100-DMA lines.
- The pair of BCH/BTC is trading flat at 0.01354 BTC with a minor intraday loss of -0.61%, and the ratio of BCH/ETH is CMP at 0.1874 ETH with an intraday action of +0.23%.
Bitcoin cash coin over the monthly chart is trading under a slightly bearish note, whereas the currency faces minor rejection of the 20-DMA line. At the same time, the crypto asset finds the support of 200-DMA lines while struggling to hold 50 and 100-day lines. If the coin sustains above 50 and 100-Day lines, positive volume action will crate more upside.
Volume over the monthly chart is lower, which needs to improve for a strong rebound in upcoming trading sessions. In contrast, if the BCH coin sustains above 20 and 50-DMA with supportive volume action will push the coin towards the $750 to $850 range. Support on the lower side is $580 and $520, whereas resistance on the higher side is $680 and $720.
Bitcoin cash coin over the weekly chart is trading sideways
Bitcoin cash coin over the weekly chart is trading sideways, with slight positive momentum. Moreover, the volume at the 4-hour time frame is lower and needs to increase. The technical parameters are heading higher with positive action on the chart. Currently, the coin is trading under the narrow range, while either side’s breakout will create strong momentum in upcoming trading sessions. Now, the Bitcoin Cash is trading at $640 with an intraday action of +2.52%, and the volume to market cap ratio is at 0.4564.
Relative Strength Index (BULLISH): Bitcoin cash coin RSI is trying to move higher after testing the oversold zone at the weekly chart. In contrast, the RSI trades on a bullish note and gradually heading towards the overbought zone, now CMP at 52.
Moving Average Convergence Divergence (BULLISH): The daily chart indicates a positive trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) ever overpowers the seller’s line (red), with a positive crossover.
Support levels: $580 and $520
Resistance levels: $680 and $720.