- Bitcoin cash price analysis reveals price levels are reaching new heights.
- Coin value has increased up to $783.
- Strong support is present at $667.3 of level.
Like so, the bullish streak has been continuous and strong enough to take the price levels to $782.67 of value. Further analysis shows that the support is strong enough for the price levels to push past the $783 hurdle in the future as well.
BCH/USD 1-day price chart: Bullish momentum keeps rising on loop, price remains above $781
The 1-day Bitcoin cash price analysis shows a commendable rise in the price value today if a comparison is made with the past week. The bullish curve has become relatively steady as the BCH value has increased to meet the $781.5 level.
The momentum has been huge as the price has even crossed the Moving Average (MA) value which is currently standing at $691.02. Moreover, as the volatility is increasing, the Bollinger bands average has become $670.50.
The expansion between the Bollinger bands has resulted in its upper value reaching the $757 value and the lower value reaching the $584.3 value. Lastly, the Relative Strength Index (RSI) score has seen a remarkable rise since the past week as well, as it has climbed past the over-bought level to reach 71.03.
Bitcoin cash price analysis: BCH/USD covering new milestones as price gets ready to breach $783
The 4-hours Bitcoin cash price analysis is indicating a strong bullish activity as more and more green candlesticks are securing their place on the price chart. The bullish momentum has taken the price to $783, which is a huge achievement for the day.
The moving average in the 4-hours price chart is resting at $788.43, whereas the Bollinger bands average is set at $725.22. The increasing volatility might bring negative news for cryptocurrency in the upcoming days.
Moreover, the upper and lower values of the Bollinger bands are as such; the upper value is $783.2, while the lower value is $667.3. The RSI score is been hovering above the overbought limit in the preceding hours and is at 74 value, but flattening up, and seems like it’s time to go down in the normal range.
The BCH/USD technical indicators chart for the day is also confirming that the dominant trend has been largely bullish. The bulls have been the majority as the summary is showing 15 indicators at the buying position, eight at neutral, and only three indicators at the selling one.
The bulls have been performing their best since the past week, as the Moving Averages indicator is also giving a strong bullish signal. It has a total of 14 indicators at the buying position, one at neutral, and none at the selling position.
There has been considerable resistance from the bearish side as well which is why the Oscillators are giving a selling signal. There are seven oscillators at the neutral spot, three at the selling spot while only one at the buying spot.
Bitcoin cash price analysis conclusion
The given 1-day and 4-hours Bitcoin cash price analysis is indicating that the bullish momentum has gained sufficient strength in the past hours. The bulls have paved the way for the price to go above $782, and further recovery can be foreseen as well but the RSI score indicates like a small correction may take place which seems necessary to provide space to bulls as they consolidate.
Although there have been instances where the bears have tried to make a comeback, yet have failed in overcoming the bullish lead. The support level is at $668 which is strong enough for the bulls to keep making their progress in the upwards direction.
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