Bitcoin Cash (BCH/USD) Price Holds Lower at $600 Mid-Range Line
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Bitcoin Cash Price Prediction – December 3
The BCH/USD market price holds lower at the $600 midrange line as the main range-bound levels are at $700 and $600. The crypto-economic percentage rate is estimated at a negative amount of 2.16, currently trading around $549.
BCH/USD Market
Key Levels:
Resistance levels: $700, $800, $900
Support levels: $500, $400, $300
BCH/USD – Daily Chart
The BCH/USD daily chart reveals that the crypto-economic price holds lower at $600 mid-range line of $700 and $500 levels range-bound levels. The 14-day SMA trend line has conjoined with the 50-day SMA trend line around the mid-range value line. The Stochastic Oscillators are currently moving in a consolidation manner around the ranges of 20 and 40 with a full-fledged strength. That suggests that the motions of consolidating may linger on more continually until some considerable degrees of trading sessions in the well-defined range-bound zones.
Will the BCH/USD market continues to feature in the range-bound zones as the crypto-economic price holds lower at the $600 mid-range line?
Indications on grand still portend that the BCH/USD market operation will feature more in ranges as the crypto-economic price holds lower at the $600 mid-range line. Based on that sentiment, the $500 market level will prolong, serving as the ideal support trading line. Therefore, long-position takers are required to be on the lookout for price motion regaining energy to make upswings between the lower range point and the mid-range line.
In the meantime, the downside technical analysis would have the short-position takers focus on the mid-range line for pressures exertion. If their stances at that value mid-range line do not play out as expected, they will have to get repositioned at the upper range-line to carry out a depressive effect on the market. Short-position takers should be wary of executing their position entries while the price suddenly pushes downward against any lower range lines at a point in time.
BCH/BTC Price Analysis
In comparison, Bitcoin Cash’s trending catalyst isn’t gaining enough grinds as paired with Bitcoin’s trending weight on the price analysis chart. The cryptocurrency pair price holds lower below the trend line of the bigger SMA. The 14-day SMA indicator is beneath the 50-day SMA indicator. The Stochastic Oscillators have slightly moved past range 20 into the oversold region. If they end up in a consolidation-moving mode, the base crypto will likely witness more loss of trending energies to the counter trading crypto in the subsequent sessions.
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