Rajarshi Mitra
Independent Analyst
- BCH/USD has gone up from $317 to $325 so far this Tuesday.
- SMA 20 curve acts as immediate market resistance.
BCH/USD daily chart
Follow two straight bullish days the BCH/USD price chart has had a bullish breakout from the triangle formation. Over this Tuesday, the price has gone up from $317 to $325. The 20-day simple moving average (SMA 20) curve is acting as immediate market resistance and is looking to cross over the SMA 50 curve. The moving average convergence/divergence (MACD) indicator shows decreasing bearish momentum,
BCH/USD 4-hour chart
-637018540756248197.png)
The 4-hour BCH/USD is currently consolidating within the triangle formation. The chart shows that the price went up from $317 to $324.55 before falling to $320.50. Since then, the price went back up to $325. The 4-hour market is currently trending below the red Ichimoku cloud. The Elliot oscillator has had ten straight bullish sessions.
BCH/USD hourly chart
-637018540998622109.png)
The hourly BCH/USD market has found support on the upward trending line. BCH/USD has been struggling at the $324 resistance line before breaking out to $325. The SMA 20 curve is crossing over the SMA 200 curve, which is a bullish sign. The relative strength index (RSI) indicator is trending around 60.60.
Key Levels
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Dogwifhat price pumps 5% ahead of possible Coinbase effect
Dogwifhat (WIF) price recorded an uptick on Thursday, going as far as to outperform its peers in the meme coins space. Second only to Bonk Inu (BONK), WIF token’s show of strength was not just influenced by Bitcoin (BTC) price reclaiming above $63,000.
Runes likely to have massive support after BRC-20 and Ordinals frenzy
PUPS, WZRD, and PEPE are gaining liquidity through Bitcoin Ordinals. Creator of Bitcoin’s Ordinals protocol is debuting a new fungible token standard to rival BRC-20, Runes.
Ethereum shows firm support at key level as its correlation with US indices increase
Ethereum's price continued a sideways movement on Thursday as the market still awaits a trigger. Ethereum isn't alone in this horizontal trend; several major index funds have also traded sideways.
Mango Market attacker convicted of fraud and market manipulation
Mango Market attacker Avi Eisenberg was convicted by a federal jury on Thursday for "fraudulently obtaining" funds from the Solana-based decentralized exchange (DEX). He could face up to 20 years in prison for his role in the $110 million attack.
Bitcoin: BTC’s rangebound movement leaves traders confused
Bitcoin (BTC) price has been hovering around the $70,000 psychological level for a few weeks, resulting in a rangebound movement. This development could lead to a massive liquidation on either side before a directional move is established.