Bitcoin Cash BCH price analysis 2nd May 2019; recovery in progress

The Bitcoin Cash fork of the Bitcoin cryptocurrency had shown a neutral growth for a long time i.e. the prices go up and down by small increment over time.

Recently the short-term price analysis of BCH/USD has revealed that the pair is struggling to regain its lost momentum on a four-hour time chart the pattern of bullish effect is evident and all the technical indicators also show positive signals in this regard.

The pattern watch shows the surging market if the pair would be able to resist downfall in its value in the same way RSI and MCAD have revealed the bullish trend on the four-hour time frame.

Due to increase security measures in cryptocurrency, various new projects have been launched and Fundamental analysis shows a surging market.

Bitcoin Cash BCH price analysis 2nd May 2019; recovery in progress 1
Bitcoin Cash BCH chart by Trading View

The medium-term analysis of BCH/USD shows a positive trend of this pair and is expected to trade above the 200-day average. The recent slight decline of BCH/USD shows resistance due to the firm position of the support level.

The bullish-to-bearish reversal indicates that technical support played an important role in predicting the value of BCH/USD.

However, the technical indicators are not able to give any clear statements regarding this pair and show different behavior. RSI and MCAD indicators show a neutral pattern on the daily time frame.

The pattern watch indicates a complex prediction and says that if the downfall will continue there would be seen head and shoulder pattern on the chart and the Fundamental analysis shows that BCH is still not able to maintain its momentum and acceptance like Bitcoin.

Bitcoin Cash BCH price analysis 2nd May 2019; recovery in progress

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