Bitcoin Cash Price Analysis: BCH/USD bulls continue to stay in control as price looks to breach $210-level
- BCH/USD went up from $187.65 to $203.25 this Friday.
- The MACD indicator shows increasing bullish momentum, so more price increase may be expected.
BCH/USD daily chart
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The bulls refuse to let go off their relentless hold on the BCH/USD market. After spiking the price from $187.65 to $203.25 this Friday, they have taken it up a little more to $207 so far this Saturday. The price was trending in an upward channel formation but it has since broken above it, which is another indicator of the buyer’s dominance. The Moving Average Convergence/Divergence (MACD) indicator shows increasing buyer momentum, while the Relative Strength Index (RSI) indicator is trending in the neutral zone, so more bullish action can be expected.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
