- Bitcoin cash token over the monthly chart is struggling near its vital moving average lines while forming the flag and pole pattern.
- The crypto asset is trading under pressure from the higher levels and presently trying to hold its vital DMA lines of 20, 50, 100, and 200-days, with average volume activity.
- The pair of BCH/BTC is trading at 0.01055 BTC with an intraday gain of +3.24%, and the ratio of BCH/ETH is CMP at 0.1677 ETH with a minor intraday dip of -0.24%.
Bitcoin cash token at the monthly chart is trading under a slightly bearish note while trading under the flag and pole chart pattern. The crypto asset is struggling near its vital moving averages of 20, 50, 100, and 200-day lines. The coin fails to sustain above its essential DMA lines and witnesses a slight selloff from the higher levels. Volume over the monthly chart is near the average line and needs to improve enormously to break out from the pattern.
Supporting volume activity will boost more buyers once the coin manages to sustain above all its DMA lines and give a successful breakout. Support on the lower side is $520 and $470, whereas resistance on the higher side is $645 and $690.
Bitcoin cash token is trading under the falling channel pattern
Bitcoin cash token is trading under the falling channel pattern; meanwhile, the technical parameters also suggest a slight selloff. The technical parameters are gradually heading lower and now reaching the near oversold zone. Moreover, the volume over the 4-hour time frame is lower and needs good increment. Either side breakout in upcoming trading sessions from the falling channel pattern will create strong moves in any direction. BCH is trading at $575 with an intraday gain of +0.32%, and the volume to market cap ratio is 0.1121.
Relative Strength Index (BEARISH): Bitcoin cash token RSI is trading on a slightly negative note and moving towards the lower levels after correcting from the higher side. The coin is trading bearish with no sign of significant recovery and RSI at 41.
Moving Average Convergence Divergence (BEARISH): The daily chart indicates a bearish trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) is trading under pressure, while the seller’s line overpowers.
Support levels: $520 and $470
Resistance levels: $645 and $690.