TL;DR Breakdown

  • The market has seen a commendable rise in price in today’s Bitcoin cash price analysis.
  • Cryptocurrency has crossed all barriers to reach $697.20.
  • Support levels have slightly increased to $625.61.

The Bitcoin cash price analysis is showing an improvement in the coin value. The price levels have overcome the exceeding bearish momentum, and have achieved the value of $686.99.9The bulls have been able to lead again after the bears tried making a comeback. The momentum has been considerable and may take the price even above $706 if it gains more strength.

BCH/USD 1-day price chart: Bears set for overthrowing bullish dominion today

In the 1-day candlestick chart, a slight drop in the Bitcoin cash price levels has been noticed, as the bears are trying constantly to win back their position. Red candlesticks have appeared on the chart, with the price decreasing to $686.99. This is not an encouraging notion for the buyers, as the price levels have dropped after a smooth bullish trend.

The moving average (MA) however, is still above the current price level i.e. $671. The volatility is decreasing, from which we can expect a rise in price ahead. The Bollinger bands are at an average of $616.11, and the trending line is showing stability.

Bitcoin cash price analysis: BCH drives past $690 to leave bearish momentum behind 1
BCH/USD 1-day price chart. Source: TradingView

The Relative Strength Index (RSI) score is at a very good number and is currently at 65.4. The Bollinger bands are showing the following values; the upper band is at $727.67, whereas the lower band is present at $504.6, in the 1-day chart.

Bitcoin cash price analysis: sluggish advancement detected from the bullish side in 4-hours chart

The 4-hours cryptocurrency is showing a gradual rise in the price after the bulls took advantage of the situation in the past days. The momentum has been strong enough to take the price to $687.20. The last few days have seen a shocking drop in the price levels, after which bulls have carried out a strong competition.

The moving average (MA) is present at $680.3, below the current price value. The volatility is expanding for the bulls, and buyers are inclined towards purchase more coin assets in the future.

Bitcoin cash price analysis: BCH drives past $690 to leave bearish momentum behind 2
BCH/USD 4-hours price chart. Source: TradingView

As the volatility is increasing, the Bollinger bands have been showing the exact values; the upper band has gone up to $706 whereas the lower band has a $609.61 value. The RSI score is 52.51 at present which is a highly neutral figure for cryptocurrency.

Bitcoin cash price analysis: BCH drives past $690 to leave bearish momentum behind 3
BCH/USD technical indicators chart. Source: TradingView

The general trend for today has been bullish, as it is confirmed by the BCH/USD technical indicators chart as well. There are a total of 26 indicators collectively, out of which 15 indicators are at the buying position, nine stands neutral while two are at the selling position. 

The Moving Averages indicator is also showing similar signals and its needle is directed towards the buying side. It is displaying the following figures; 14 indicators at buying signal, one at neutral, and none at the selling signal.

The market has experienced a strong contest which caused the Oscillators to be neutral. There are nine oscillators at the neutral position, one at the buying position whereas only two oscillators are at the selling position.

Bitcoin cash price analysis conclusion

The Bitcoin cash price analysis is showing positive news for the buyers. The bulls seem to be regaining their strength as they have successfully climbed up to $687.20. The market is supposed to exhibit identical results in the future if the support stays to be $609.91. The resistance level found at $727 can only be overcome in that scenario.

Source: cryptopolitan.com

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