At the moment, Bitcoin Cash price is ranging below the 12-day and the 26-day EMAs which suggests that price is likely to decline.
Bitcoin Cash (BCH) price was in a sideways trend. After the downward correction on June 30, the price dropped to a low at $400 level. The price of Bitcoin Cash fluctuates below and above the $400 price level. At the moment, Bitcoin Cash price is ranging below the 12-day and the 26-day Exponential Moving Averages (EMAs) which suggests that price is likely to decline.
On the upside, if the $400 price level holds, BCH bulls will make an upward move to retest $480 resistance level. The price is below the EMAs which indicates that BCH price is likely to continue its decline. From the Fibonacci tool, Bitcoin Cash price is between the 0.382 and 0.50 Fib. retracement levels.
The price seems to be ranging above the $400 price level. In the meantime, the BCH price is in the oversold region of the daily stochastic while above the 20% range, thus suggesting that the price of Bitcoin Cash is in a bullish momentum and buy signal.
BCHUSD Price Short-term Analysis
As the 1-hour chart shows, BCHUSD price is in a bearish trend. The 12-day and the 26-day EMAs are sloping southward suggesting that the price is declining. The price of BCHUSD is facing resistance at the $415 price level. On July 1, BCH bulls tested the $415 price level but they were, however, met with resistance and the price dropped below the EMAs to a low at $390 price level.
At the support level of $390, BCH bulls made an upward move above the EMAs and retested the $415 twice but were resisted as price dropped to the support of the EMAs. In the meantime, BCHUSD price is in the oversold region of the daily stochastic but above the 40% range, which suggests that the price is in a bullish momentum and buy signal.
- Resistance Levels: $480, $500, $520
- Support Levels: $400, $380, $360
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.