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Bitcoin cash price analysis: Bearish current takes BCH to $733 as bulls struggle

Bitcoin cash price analysis Bearish current follows as the price downgrades further to

TL;DR Breakdown

  • The latest Bitcoin cash price analysis shows a decline in price.
  • Coin value to go down even below $732.65.
  • Support is still quite strong as it is present at $680.2.

The Bitcoin cash price analysis shows that the cryptocurrency has gone through a bearish momentum in the latest price chart. The bearish momentum has been continuously at a peak, as the last hours have seen a major decline in the price value.

The price has lowered to the level of $733, causing a reversal in the uptrend that followed earlier this day. As the short-term trending line is also showing downward movement, further reduction in price can be expected.

BCH/USD 1-day price chart: Bears debase coin value ruining further chances of improvement

The 1-day Bitcoin cash price analysis is indicating that the price has undergone a major decline today. That has been made possible by the bears who have been able to interrupt the successive bullish wins. The bears have taken the price value down to $733, which has been surprising as the past week has seen a continuous rise in price.

The price is still present above the Moving Average (MA) value which is currently set at $699.54. The expansion of Bollinger bands has resulted in increased volatility which is a partially negative indication for the future.

Bitcoin cash price analysis: Bearish current takes BCH to $733 as bulls struggle 1
BCH/USD 1-day price chart. Source: TradingView

The Bollinger band indicator in the 1-day price chart is displaying the following figures; the upper band is showing $765 of value whereas the lower band is showing $586.52 value. Lastly, the Relative Strength Index (RSI) score has also taken a sharp turn towards the downside and has decreased up to 60.6.

Bitcoin cash price analysis: BCH bulls receive great shock as price movement reverses abruptly

The 4-hours Bitcoin cash price analysis is going strongly bearish as the cryptocurrency has gone through a major loss in the last hours. The BCH/USD price has dropped to the $733 level, which has been an unexpected blow.

Meanwhile, the 4-hours price chart is also showing the Moving Average to be at $769 and the Bollinger bands average at $742.35. The SMA 20 curve is also going downwards after covering a note-worthy distance through ascending movement.

Bitcoin cash price analysis: Bearish current takes BCH to $733 as bulls struggle 2
BCH/USD 4-hours price chart. Source: TradingView

Moreover, the upper Bollinger band is found at the $804.52 level whereas the lower half is touching the $680.19 level. The Relative Strength Index (RSI) score has also decreased significantly because of the ongoing bearish activity and is now present at 50.

Bitcoin cash price analysis: Bearish current takes BCH to $733 as bulls struggle 3
BCH/USD technical indicators chart. Source: TradingView

As there have been instances where the bulls have succeeded in securing a win as well, the technical indicators chart is giving a slightly bullish signal. The summary is as such that there are a total of 14 indicators on the buying position, with seven indicators at the neutral and five at the selling position.

If we talk about the Moving Averages indicator, we find out 13 indicators at the buying signal, while one indicator each is giving a selling and neutral signal. Moreover, the Oscillators are giving a selling signal because of the recent decline in BCH price. There remain four oscillators at the selling point, six oscillators at the neutral point leaving one at the buying point as per Bitcoin Cash price analysis.

Bitcoin cash price analysis conclusion

The following 1-day and 4-hours BCH/USD price analysis is indicating a loss in the price value today, as it has moved down to $733. Although the past few days proved highly supportive for the bulls, the most recent update has been in the favor of the bears.

If the support level present at $680.19 remains the same, there are eminent chances for recovery. Nevertheless, the bears have been able to take the lead once again.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
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Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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