BCH/USD Price analysis: Underperformer on a green day, waiting for a breakout?
- BCH gains the least among major cryptos
- Trendline and falling wedge pattern visible on the daily
Bitcoin Cash the cousin of its larger peer, Bitcoin, barely manages to stay green on a day when all the major cryptocurrencies are flarig up with gains of between 1-6 percent. BCH/USD was marginally up by 0.4 percent on Saturday at $1,065 after three consecutive days of losses through Friday.
Bitcoin cash now has around $1,118 and $1,235 marks while support stands at $960 and $908 levels.
On the intra day 15-minute chart $1,057 acts as a decent support - its 21MA. On the daily chart, there seems to be a falling wedge pattern in the making, confirmation of which could be known once the price crosses past $1,270 mark with volumes - still a far off level for the laggard.
Author
Manoj B Rawal
Independent Analyst
Manoj B Rawal, financial markets professional with about 11 years of experience in writing, editing and advising on stocks, currencies and fixed income.
