Bitcoin Cash price is in a bullish trend after breaking through $300 after recent a recent sell-off. Will the upward trend continue?
Bitcoin Cash Price Technical Analysis
Yesterday, August 15, the price of Bitcoin Cash (BCH) was in a bullish trend after the bulls broke above the 12-Day Exponential Moving Average (EMA). The bulls are now approaching the 26-day EMA after testing the $305 price level. BCH price is currently consolidating around the $312 level.
On the upside, if the bulls break above the EMAs, Bitcoin Cash price will rise and retest the $315 and $320 price levels. On the downside, if the bulls fail to break the EMAs, the price might decline towards the $285 level. 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
On the 1-hour chart, the price of BCH is in a bullish trend. The 12 and 26-day EMAs are trending upward indicating that price is in a bullish trend. Recently, BCH bulls tested the $335 price level and were resisted. The price fell as the bears broke below the EMAs to reach the $340 and $330 support levels.
In the meantime, the BCH price is in the oversold region of the daily stochastic while above the 20% range. This suggests that price is in a bearish momentum and sell signal.
- Resistance Levels: $315, $320
- Support Levels: $305, $300, $285
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.-