- The latest Bitcoin cash price analysis is bearish with downward biast.
- The price has slightly decreased till $648.82.
- Support is still very strong at $619.4.
The Bitcoin cash price analysis is indicating that a drop in price has occurred today which has caused the price to lower to $649. The past few hours have seen a bullish strike as well which has been quite strong. Yet, the bears have once again overcome the bullish momentum and have been successful in maintaining their lead.-cash-price-analysis-2021-09-12″>The price levels are dropping once again and there is a great chance of BCH going through further loss in the following week. Overall BCH/USD has gained a value of nearly one percent over the last 24 hours and a decrease of about 10 percent has been observed over the past week.
BCH/USD 1-day price chart: Bulls back on track after saving price from falling below $649
The 1-day Bitcoin cash price analysis chart is showing that the price has improved as the bulls are rising once again. The day has been supportive for the buyers, as the price has increased up to $649.
This can be considered a great accomplishment for the bulls, as BCH had faced a huge loss in the previous week. Other important values that could be extracted from the 1-day price chart include the moving average (MA) value which is currently set at $649.4.
The volatility is increasing as well which is considered a negative sign for cryptocurrency. If we move forwards towards the Bollinger bands, then the upper Bollinger band is present at the $754 level whereas the lower Bollinger band is present at the $578 level.
The Relative Strength Index score is climbing up again and has reached the 49 value, which is a quite average figure exactly at the centerline.
Bitcoin cash price analysis: Price pursuing downward movement as the bears return
The 4-hours Bitcoin cash price analysis is showing that the bears have made a small comeback by causing the price to fall to $649. The strong bullish trend has been overturned as the bears are trying to secure their position on the price chart again.
The moving average value is far below the BCH price, as it is present at the $639.4 level. The volatility is decreasing continuously, which is a positive signal for cryptocurrency.
The Bollinger bands are keeping their average at $646.53, whereas their upper value is found to be at $674 and the lower value at $619.4. Lastly, the RSI score as determined from the 4-hours price chart is present at 46.5 which is a neutral level but slightly towards the bearish side.
As both the market competitors Buyers and sellers have affected the BCH price, the technical indicators chart is giving out a neutral signal. That is because there are eight indicators on the neutral and buying levels each, while 10 indicators are on the selling level.
As there has been a decline in price today, the Moving Averages indicator is showing a selling sign. There are eight indicators found to be at the selling position, six at the buying position, and only one at the neutral position.
The Oscillators are giving a neutral indication, as there are seven indicators at the neutral position, while two oscillators each are at the selling and buying positions.
Bitcoin cash price analysis conclusion
The given 1-day and 4-hours Bitcoin cash price analysis is predicting that the cryptocurrency has undergone a minute loss today as the bears are making returns.
Although the day has seen strong pressure from the bullish side as well, the bears have once again caused a decrease in price to $648.82. As the support level is quite far from the current price i.e. at $619.4, there are sufficient chances of recovery as well.
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