Bitcoin Cash Price Analysis: BCH/USD consolidates below $400
- BCH/USD continues to consolidate below the $400 level.
- The SMA 50 has crossed over the SMA 200 to chart the golden cross pattern.
- The Elliott Oscillator has had three straight red sessions.
BCH/USD daily chart
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BCH/USD went up slightly from $377.25 to $382.15 in the early hours of Tuesday as the asset continues to consolidate its price below $400. Over the last five days, BCH/USD bulls and bears have been engaging in a tug-of-war to take control. The price is hovering in the top half of the 20-day Bollinger Band, above the SMA 20, SMA 50 and SMA 200. The SMA 50 has crossed over the SMA 200 to chart the golden cross pattern. The MACD shows a reversal of bullish momentum, while the Elliott Oscillator has had three straight red sessions showing bearish sentiment.
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.
