Bitcoin Cash technical analysis: BCH/USD is currently trending in a downwards channel formation


  • BCH/USD is currently trading around $308 in the early hours of Saturday.
  • The relative strength index (RSI) indicator is trending around 39, right next to the oversold zone.

BCH/USD daily chart

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BCH/USD went down from $315.15 to $307.50 this Friday as bears took control of the market following two straight bullish days. BCH/USD managed to have a bullish start to the day as the price has gone up to $308. The daily price is trending below the 50-day simple moving average (SMA 50) and SMA 20 curves while it is above the SMA 200 curve. The relative strength index (RSI) indicator is trending around 39, right next to the oversold zone.

BCH/USD 4-hour chart

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The 4-hour BCH/USD market is trending below the green Ichimoku cloud. The market sentiment will soon turn bearish as per the Ichimoku cloud. The 4-hour price chart sees significant resistance at $315.75 and finds support at $301.85. The moving average convergence/divergence (MACD) indicator shows sustained bullish momentum.

BCH/USD hourly chart

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The hourly price chart is trending in the upper half of the 20-day Bollinger band and below the SMA 200 curve. The narrowing of the Bollinger jaw indicates decreasing market volatility. The Elliot oscillator shows six straight bullish sessions of increasing intensity.

Key Levels

BCH/USD

Overview
Today last price 307.7915
Today Daily Change -0.4232
Today Daily Change % -0.14
Today daily open 308.2147
 
Trends
Daily SMA20 366.0228
Daily SMA50 400.8681
Daily SMA100 364.903
Daily SMA200 257.6861
Levels
Previous Daily High 316.1083
Previous Daily Low 295.5295
Previous Weekly High 345.941
Previous Weekly Low 255.06
Previous Monthly High 516.9074
Previous Monthly Low 362.9877
Daily Fibonacci 38.2% 303.3906
Daily Fibonacci 61.8% 308.2472
Daily Pivot Point S1 297.1267
Daily Pivot Point S2 286.0387
Daily Pivot Point S3 276.5479
Daily Pivot Point R1 317.7056
Daily Pivot Point R2 327.1964
Daily Pivot Point R3 338.2844

 


 

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