Covenant x402
Tetsuo Super Intelligence
Doge Pepe
Boomer
hi
Pudgy Penguins
Claudia
- Bitcoin Cash Price successfully escaped the horizontal range-bound area over the daily chart.
- The crypto asset manages to recover above 20, 50, and 100-days DMA and aims for 200-days DMA.
- The pair of BCH/BTC is trading at 0.007889 BTC with an intraday drop of 2.78%, whereas the BCH/ETH pair is CMP at 0.1101 ETH with a 24-hour negative change of 4.01%.
Bitcoin Cash Price managed to escape the consolidation phase inside the horizontal area after falling from the descending channel. However, BCH just escaped out of the horizontal zone, but BCH bulls fail to sustain as the token is still sideways. BCH coin, after falling through a descending channel, stuck into a consolidation phase over the daily chart from the past few trading sessions. On 22nd March, BCH bulls broke out of the horizontal range-bound area. Still, BCH is stuck consolidating outside of the region.
BCH coin is presently CMP at $374.93 and has lost 1.67% of its market capitalization in the last 24-hour period. However, trading volume has increased by 0.60% in the intraday trading session. This shows buyers are getting involved in the trade for BCH and coming forward for the rescue. The volume to market cap ratio is 0.6676.
BCH coin’s highest and lowest hits are 377.13 and 367.47, respectively, in the last 24-hour period. BCH coin is still looking for a way to get a kickstart for a bullish rally over the daily chart. BCH investors are waiting for the token’s recovery, and bulls need to come forward for the rescue of the BCH coin. However, the volume change is below average and needs to grow for BCH to adopt complete bullish momentum in the intraday trading session. BCH coin is trying hard to move out of the sideways momentum and again got stuck in the sideways momentum.
What do Technical Indicators Suggest about BCH?
Bitcoin Cash Price just paved its way out of the horizontal range-bound area. BCH token still struggles to maintain the prior breakout. The token is not getting stability over the daily chart as buyers are not getting involved upto the required level. The technical indicators also suggest the return of the BCH token from overbought territory.
Stoch-RSI showcases the presence of the BCH coin at the verge of the overbought zone. Meanwhile, MACD exhibits bullishness of BCH coin. MACD line is ahead of the signal line into the positive zone.
Conclusion
BCH investors are waiting to get the token in a strong uptrend momentum, but BCh is still stuck in the consolidation phase after moving out of the horizontal range-bound area. BCH Coin still waits for bulls to come to the rescue. BCH strictly needs to attract more buyers as it’s registering its return from oversold territory.
Technical Levels
Support Levels: $260.00 and $245.00
Resistance Levels: $400.00 and $450.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
