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Bitcoin Cash Price Analysis: BCH/USD bulls take control and push price back above $335

  • The bulls stepped back into the market following two consecutive bearish days.
  • The RSI indicator is trending around 74.65 within the overbought zone.
Bitcoin Cash Price Analysis: BCH/USD bulls take control and push price back above $335
Rajarshi MitraRajarshi MitraIndependent Analyst

BCH/USD daily chart

BCH/USD daily chart

BCH/USD went up from $327 to $339 in the early hours of Friday. The price has encountered resistance at the upper curve of the 20-day Bollinger Band. BCH/USD also happens to be hovering above the 20-day Simple Moving Average (SMA 20), SMA 50 and SMA 200 curves. Both the Moving Average Convergence/Divergence (MACD) and Elliott Oscillator indicate sustained bullish sentiment. The Relative Strength Index (RSI) indicator is trending around 74.65 within the overbought zone.
 

Author

Rajarshi Mitra

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.

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