Bitcoin Cash market overview: BCH/USD sandwiched between SMA 200 and downward trending line

  • BCH/USD fell from $307.85 to $306 in the early hours of Wednesday.
  • The Elliott Oscillator shows two straight bearish sessions. 

BCH/USD has had two straight bearish days in a row. In the early hours of Wednesday, the price of BCH/USD has fallen from $307.85 to $306. This Tuesday, the price has fallen from $310.65 to $308.60. The hourly breakdown shows that the price fell from $310.65 to $305 this Tuesday before the bulls rallied back and took BCH/USD back up to $307. The bears then re-entered and took the price down to $304.60. The buyers came back strongly and spiked the price up to $312.15 before it corrected around $306.

BCH/USD daily chart


The daily BCH/USD chart has found resistance on the downward trending line and is trending below the 20-day simple moving average (SMA 20) and the SMA 50 curves. The market has found on the SMA 200 curve. The moving average convergence/divergence (MACD) has had eight bearish sessions. The relative strength index (RSI) indicator is trending around 45.75. The Elliott oscillator has had two straight bearish sessions.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: BTC/USD consolidation lags triangle breakout

Bitcoin remained under pressure during the entire weekend. The attempts made to stay above $7,200 support failed, leaving to the path of least resist ace to be below $7,000. Bitcoin’s immediate upside is limited by the 50 SMA on the 2H chart.

More Bitcoin News

Ethereum Price Update: ETH/USD defends $140 support yet again

Ethereum is largely unchanged compared to the levels towards the end of last week. The pressure oozing from the bears continued across the weekend session. Besides action beyond $145 remained limited.

More Ethereum News

Ripple Price Analysis: XRP/USD spirals in freshly reignited downward momentum

Ripple has ignited the bearish momentum breaking the weekend-long support at $0.2160. The losses come after an attempt to break out from the descending channel resistance failed.

More Ripple News

Cardano’s IOHK celebrates 120 staking pulls less than 24 hours after testnet launch

The research firm in charge of developing Cardano, a major cryptocurrency, IOHK was delighted to announce the fantastic performance of the newly launched testnet.

More Cryptocurrencies News


Bitcoin Weekly Forecast: It's all about whales again

On the cryptocurrency market, regulators, governments and central bankers and other big names like that are inferior to whales when it comes to generating trends and price movements.

Read the weekly forecast