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Bitcoin Cash price analysis: Bulls take back in control and try to re-enter $300-zone

  • BCH/USD found support on the upward trending line.
  • RSI index is trending next to the overbought zone
Bitcoin Cash price analysis: Bulls take back in control and try to re-enter $300-zone
Rajarshi MitraRajarshi MitraIndependent Analyst

BCH/USD daily chart

fxsoriginal

BCH/USD has so far gone up from $291.94 to $292.65. This follows a heavily bearish Thursday where the price slumped from $305.70 to $291.94. The price is trending in an upward channel formation, having found support at the upward trending line. The Relative Strength Index (RSI) is at 64, right next to the overbought zone. The bulls will look to rally together and re-enter the $300-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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