Bitcoin Cash Price Analysis: BCH Trying to Adapt the Strong Bullish Momentum, Know Whereabouts!

  • Bitcoin Cash price is trying to look for a strong bullish momentum for its recovery over the daily price chart.
  • BCH crypto has recovered above 20 and 50 EMA but still below 100 and 200-days Daily Moving Average.
  • The pair of BCH/BTC is at 0.006078 BTC with an intraday gain of 1.50%.

Bitcoin Cash price is trying to surge upwards with uptrend momentum over the daily price chart. The token has been continuously bullish from the last three trading sessions and is now trying to maintain the uptrend momentum as bears strike to pull the token back. BCH bulls must accumulate themselves to let the token sustain at the current level above the upward sloping line over the daily chart. BCH is trying to maintain itself above an upward sloping line to remain in the recovery phase. However, bears are trying to pull the token back and bulls must come forward for the rescue. 

At $140.88, Bitcoin Cash’s market capitalization climbed by 0.51% from the day before. However, during the intraday trading session, trading volume decreased by 29.11%. This demonstrates the effort BCH bears are making to accumulate so that the coin can begin to maintain its downward trend. Volume to Market capitalization ratio is 0.08866.

BCH coin price is coming from some interesting pattern over the daily chart. The token has fallen significantly during the roller coaster ride in the past months trading sessions. However, this time BCH is finally trying to start its recovery phase above an upward sloping line over the daily chart. In contrast, bears are trying to pull the token below the sloping line to let the token slump again towards the lower levels. Meanwhile, volume change can be seen below average and needs to grow for BCH to sustain. 

Will BCH Surge or Slump?     

BCH coin price is trying to maintain itself above the upward sloping line over the daily price chart. The token must stay in the recovery phase to avoid falling over the daily chart. Technical indicators suggest the struggle of BCH bulls to sustain above the upward sloping line.

Relative STrength Index showcases the sideways momentum of BCH coin. RSI is at 58 and is heading towards neutrality. MACD exhibits the sideways momentum of BCH coin. The MACD line is on the signal line and waiting for any type of crossover. BCH investors must wait for any directional change over the daily chart. 

Conclusion 

Bitcoin Cash price is trying to surge upwards with uptrend momentum over the daily price chart. The token has been continuously bullish from the last three trading sessions and is now trying to maintain the uptrend momentum as bears strike to pull the token back. BCH bulls must accumulate themselves to let the token sustain at the current level above the upward sloping line over the daily chart.  Meanwhile, volume change can be seen below average and needs to grow for BCH to sustain. Technical indicators suggest the struggle of BCH bulls to sustain above the upward sloping line. BCH investors must wait for any directional change over the daily chart. 

Technical Levels

Support Level: $130.00 and $115.00

Resistance Level: $150.00 and $165.00

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 the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.  

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