Bitcoin Cash price is in the oversold region of the daily stochastic while above the 20% range. This indicates that BCHUSD is in a bullish momentum and buy signal.
Bitcoin Cash Price Technical Analysis
In retrospect of the past week, Bitcoin Cash (BCH) was in a range-bound movement below the 12 and 26-day Exponential Moving Averages (EMAs). The BCH had been on a downward correction. On June 27, the bulls met resistance at the $480 price level. The first downward correction was below the EMAs while above the $400 price level where the BCH was range-bound.
Bitcoin Cash price continues its range-bound movement below the EMAs and above the $400 price level until they met resistance on July 10. On July 14, the downtrend was corrected at the price of $280.The price of BCH is now ranging above the $280 price level while below the EMAs. In the meantime, the price of Bitcoin Cash is in the oversold region of the daily stochastic while above the 20% range. This is an indication that BCH price is in a bullish momentum and a buy signal.
BCHUSD Price Short-term Analysis
As the 1-hour chart shows, BCHUSD price is in a bearish trend. The 12 and 26-day EMA are sloping southwardly suggesting that price is declining. The price of BCHUSD dropped from the high of $340 level to the low of $300 support level and started a bullish move above the EMAs. In the meantime, the BCHUSD price is in the oversold region of the daily stochastic while above the 20% range, which indicates that the price is in a bullish momentum and a 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.