- The bulls are trying to get some upward momentum over the price of BCH
- The current price of BCH is around
- The pair of BCH/BTC is approximately
The BitcoinCash is trying to recover but the bears are trying hard to bring downward momentum. But the bulls have the guts to step against the bears and bring the price to their desired targets. The bears may have different plans for BCH but the Bulls are giving the toughest fight to get the upward momentum. This is time to check who will reach their predetermined targets.
The current price of the BCH is approx $118.52 with a total incline of 2.67% during the intraday trading session and the pair of BCH/BTC is currently around 0.005549 BTC. The bulls and bears both are hustling over the price of BitcoinCash. If bulls work some extra miles then the price may reach up to the primary resistance of $119.07 and if the bears do not enter the trade then the price may reach the secondary resistance of $124.84.And if the bears
Turn over a new leaf then this will not be easy for the investors to survive in the market. The price may crack down to the primary support of $116.20 and if they get success in achieving their desired targets according to their opal the price may drop up to the secondary support of $114.45. This fluctuating market has made it difficult for investors to make a decision.
The volume of the coin has dropped by around 28.10% the continuous drop in the volume indicates that the selling pressure has increased and the buying is getting weaker day by day 5the buyers have to make some move and enter the trade to make BCH regain its potential. The volume to market cap ratio is around 0.08499.
The technical indicator shows the following: The relative strength index is getting close to being overbought. The current RSI, which is 50.69 is higher than the average RSI, which is 49.82. Bulls put a lot of effort into pushing the RSI towards the overbought region. The RSI is normalized as both bulls are putting pressure to push the RSI towards their desired zone. But both bulls and bears are creating hurdles for each other and this could be difficult for the new investors to enter the trade. The price of the coin is still higher than the 20-day Estimated Moving Average. And still lagging behind the 50,100,200 daily moving average. The investors have to wait for any movement in the price of the coin. Let us wait and watch who will make the first move, bulls or bears.
Support Levels: $0.3220 and $114.45
Resistance Levels: $116.20and $124.84
The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.