Bitcoin Cash price will rise and retest the $400 and $480 price levels if the bulls break above the 12-day EMA and the 26-day EMA. What more? Today’s technical analysis reveals.
Bitcoin Cash Price Technical Analysis
Bitcoin Cash (BCH) price was trading yesterday, July 31 in a range-bound movement below the 12 and 26-day Exponential Moving Averages (EMAs). BCH bulls have broken the 12-day EMA and it is approaching the 26-day EMA. At the moment, Bitcoin Cash price is facing resistance at the 26-day EMA. On the upside, if the bulls break above the EMAs, the price of BCH will rise and retest the $400 and $480 price levels.
On the downside, if the bulls are unable to break above the EMAs, Bitcoin Cash price will continue its range-bound movement below the EMAs. In the meantime, BCH price is in the overbought region of the daily stochastic while above the 60% range. This is an indication that the price is in a bullish momentum and buy signal.
BCHUSD Price Short-term Analysis
As the 1-hour chart shows, BCHUSD price is in a bullish trend. The 12 and the 26-day EMAs are trending upward to suggest that the price is in a bullish trend. The price of BCHUSD is making a series of higher highs and higher lows as the price reached a high of $336 price level. The $336 price level is now an overhead resistance level.
On July 31, the bulls tested the $336 price level twice but they were resisted and the price dropped as the bears broke below the EMAs. In the meantime, the BCHUSD price is in the oversold region of the daily stochastic while above the 20% range. This is an indication that BCH price is in a bearish momentum and sell signal.
- Resistance Levels: $480, $500, $520
- Support Levels: $280, $260, $240
Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.