Bitcoin Cash price continues its range-bound movement below the EMAs and above the $400 price level until the bulls met resistance on July 10. Gain more insight into the following technical analysis.
Bitcoin Cash Price Technical Analysis
Bitcoin Cash (BCH) price was yesterday, July 17 in a range-bound movement below the 12 and 26-day Exponential Moving Averages (EMAs). The price had been on a downward correction. On June 27, BCH bulls met resistance at the $480 price level. The first downward correction on June 27 was below the EMAs while above the $400 price level.
Bitcoin Cash price continues its range-bound movement below the EMAs and above the $400 price level until they met resistance on July 10. The price of BCH declined to the support of $280 price level and resumed a range-bound movement below the EMAs.
After the range-bound move, the price of Bitcoin Cash is most likely to decline or break above the EMAs. In the meantime, the price of BCH is in the oversold region of the daily stochastic while above the 20% range. This suggests that BNB 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 zone. The 12 and 26-day EMA are sloping southwardly, which is an indication that the price of BCHUSD is dropping. The price declined to the $270 support level and resumed a bullish move above the EMAs. In the meantime, BCHUSD price is in the overbought region of the daily stochastic while above the 80% range, indicating that the price of BCHUSD is in a bullish momentum and buy signal.
- Resistance Levels: $480, $500, $520
- Support Levels: $300, $290, $280
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.