Bitcoin Cash price is in the oversold region of the daily stochastic but above the 20% range. This indicates that the BCHUSD pair is in a bullish momentum and buy signal.
Bitcoin Cash Price Technical Analysis
Bitcoin Cash (BCH) price was yesterday, July 18, in a range-bound movement below the 12 and 26-day Exponential Moving Averages (EMAs). BCH price had been on a downward correction after the bulls met resistance at the $480 price level on June 27.
The first downward correction was below the EMAs while above the $400 price level on June 27. 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. The price of Bitcoin Cash dropped to the support of $280 price level and commenced a range-bound movement below the EMAs.
After the range-bound movement, the price of BCH is likely to decline or break above the EMAs. In the meantime, the BCH 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 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 26-day EMA are sloping southwardly suggesting that the price is declining. BCHUSD price dropped to the $270 support level and commenced a bullish move above the EMAs.In the meantime, the price of BCHUSD is in the overbought region of the daily stochastic but above the 80% range, which is an indication that the price is in a “https://kryptomoney.com/bitcoin-cash-price-analysis-bchusd-in-a-bullish-momentum/”>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.