Bitcoin Cash (BCH/USD) Market Swings at $500
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Bitcoin Cash Price Prediction – July 9
The BCH/USD market swings at $500 slightly over a couple of several days’ sessions to denote that there is a kind of range-bound price movement in the crypto economy. Price possesses a smaller negative percentage rate of around 0.46 to trade at the level of $488 as of writing.
BCH/USD Market
Key Levels:
Resistance levels: $600, $800, $1,000
Support levels: $400, $300, $200
BCH/USD – Daily Chart
On the BCH/USD daily chart, it shows that the crypto market swings majorly in between the levels of $600 and $400 in the manner of range-bound moving outlook. The 14-day SMA trading indicator places resistance on top of the market’s featuring points as the bearish trend-line drew downward, touching the smaller SMA at the resistant zone underneath the 50-day SMA indicator. The Stochastic Oscillators have slightly crossed the lines southbound from the overbought region, suggesting that a depression is somewhat happening in the crypto-economic operations presently.
The BCH/USD market swings at $500; will there be a change of trend soon?
Changing of trend, not in the near time visible; in the trading activities of Bitcoin Cash pairing the US Dollar. To have a strong support baseline for the BCH/USD market bulls, a line of downward forces is necessary to surface following the readings of the Stochastic Oscillators coupled with the formation of candlesticks. And, the moment that the market comes up with a bullish candlestick from a dip, it would the better time that bulls re-launch their position in the crypto trade.
On the downside, the level around the resistance of $600 remains the better-off zone that the BCH/USD market bears should hold their position stronger against any subsequent up-rise that bulls may intend to pose back into the trade. However, a sudden hike against the point in question may allow the crypto worth to get projection into witnessing more series of up-risings in a bid of reverting into a bullish uptrend afterward.
BCH/BTC Price Analysis
Comparing the trending catalyst between Bitcoin Cash with Bitcoin, the BCH/BTC market swings faintly, creating a line of variant tiny-smaller lows close underneath the smaller SMA. All the indicators are close-located on the price analysis chart. The 14-day SMA trend-line is closely below the 50-day SMA indicator as the bearish trend-line drew southward to touch the smaller SMA. The Stochastic Oscillators are in the overbought region with conjoined lines, moving in a consolidation style to probably denote an indecision trading situation currently existing between the two cryptocurrencies. Therefore, it would be a better technical trading approach to be on the lookout for active price action before knowing which of the two cryptos will regain momentum.
Note: new.cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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