Bitcoin Cash Price Analysis: BCH Trying To Adapt Strong Bullish Momentum, Know Its Whereabouts!

  • Bitcoin Cash price is trying to look for strong upside momentum for its recovery on the daily price chart.
  • BCH crypto has rallied above the 20 and 50 EMAs but still below the 100 and 200 day moving average.
  • The BCH/BTC pair is at 0.006078 BTC with an intraday gain of 1.50%.

Bitcoin Cash price is trying to rise with an uptrend momentum on the daily price chart. The token has been continuously bullish since the last three trading sessions and is now trying to maintain the uptrend momentum as the bears attack to pull the token back. BCH bulls must stack up to allow the token to sustain at the current level above the upsloping line on the daily chart. BCH is trying to hold above an upsloping line to stay in the recovery phase. However, the bears are trying to withdraw the token and the bulls must come to the rescue.

At $140.88, the market capitalization of Bitcoin Cash increased by 0.51% from the previous day. However, during the intraday trading session, the trading volume decreased by 29.11%. This shows the effort BCH bears are putting in to accumulate so that the coin can start to sustain its downtrend. The ratio of volume to market capitalization is 0.08866.

The BCH coin price is coming from an interesting pattern on the daily chart. The token has fallen significantly during the rollercoaster of trading sessions in recent months. However, this time BCH is finally trying to start its recovery phase above an upward sloping line on the daily chart. Conversely, the bears try to pull the token below the sloping line to let the token fall back towards lower levels. Meanwhile, the volume change can be seen below average and needs to grow for BCH to hold.

Will BCH Rise or Crash?

BCH coin price is trying to stay above the upsloping line on the daily price chart. The token must remain in the recovery phase to avoid falling on the daily chart. Technical indicators suggest BCH bulls struggle to stay above the upsloping line.

The relative strength index shows the sideways momentum of the BCH coin. RSI is at 58 and heading towards neutrality. MACD exhibits the sideways momentum of the BCH coin. The MACD line is at the signal line and waiting for any kind of crossover. BCH investors should expect any change in direction on the daily chart.

conclusion

Bitcoin Cash price is trying to rise with an uptrend momentum on the daily price chart. The token has been continuously bullish since the last three trading sessions and is now trying to maintain the uptrend momentum as the bears attack to pull the token back. BCH bulls must stack up to allow the token to sustain at the current level above the upsloping line on the daily chart. Meanwhile, the volume change can be seen below average and needs to grow for BCH to hold. Technical indicators suggest BCH bulls struggle to stay above the upsloping line. BCH investors should expect any change in direction on the daily chart.

Technical Levels

Support level: $130.00 and $115.00

Resistance Level: $150.00 and $165.00

Disclaimer

The views and opinions expressed by the author, or anyone named in this article, are for informational ideas only and do not constitute financial, investment, or other advice. Investing or trading in crypto assets carries a risk of financial loss.

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