logo

Bitcoin Cash Price Analysis: strong resistance at $713

BTC
  • Market volatility high.
  • Strongest resistance at $713
  • Strongest support at $549

The Bitcoin Cash Price Analysis has shown a significant decline on 22 November 2021, followed by a flash-crash the same day the price went as low as $550. On 23 November 2021, the price started to increase, showing a head and shoulder movement. Due to high volatility, the fluctuations in the prices are rather significant and unpredictable to some extent.

Bitcoin Cash Price analysis chart 4-hour: steady increase in volatility

The Bitcoin Cash Price analysis chart shows that the volatility of the market has currently steadily increased. Though the increasing process might be slow nonetheless, it will have an impact on the whole market. Since the volatility increase is not significant, the investments’ prices will undoubtedly be affected. The moving average curve crosses over the BCH/USD price; this implies that the trend being followed is bullish. With the volatility increasing and the movement being bullish, the investment pieces are expected to rise.

Bitcoin Cash Price Analysis: strong resistance at $713 1
BCH/USD 4-hour chart source: Trading view

The Bitcoin Cash Price Analysis shows the upper limit of the Bollinger’s band at $590 being the resistance and the lower limit at $549 being the support. The Relative Strength Index (RSI) is at 41; it is slightly undervalued, but not entirely; it’s almost in the middle showing no signal and is not being oversold. The buyers will have to up their game if they want to capture the market.

BCH/USD 1-day price analysis chart: highly variable market

By examining the Bitcoin Cash Price analysis chart, we have come to know that the market is outstandingly volatile, which means that the prices of the investments will significantly be prone to change. The moving average is crossing over the BCH/USD price, so the trend is bullish in the market. The market is volatile, and the bullish trend implies that the price will increase somewhat, though this much volatility hinders the accuracy of predictions.

Bitcoin Cash Price Analysis: strong resistance at $713 2
BCH/USD 1-day chart price source: Trading view

The Bitcoin Cash Price Analysis shows that the Bollinger’s bands’ upper limit is at $713, also known as resistance, and the lower limit of the Bollinger’s band, also known as support, rests at $522. The gap between the lower and upper limits is enormous, which implies that the prices of the assets will change at a random and significant scale. The Relative Strength Index (RSI) is at 40, slightly undervalued and not oversold. The market is bullish, and the assets are undervalued; the value of investments will likely escalate.

Bitcoin Cash Price Analysis: conclusion

The Bitcoin Cash Price Analysis concludes that we have observed the current behavior of BCH, which is following a relatively bullish trend. The chart analysis shows that with the steady bullish momentum, it is predicted that the cryptocurrencys’ value will son increase, but if the current support fluctuates, we may see a decline in the prices as far as $540.

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. 

Andrew

Andrew

Andrew is a journalist and cryptocurrency enthusiast who writes for the love of blockchain and cryptocurrency. He possesses vast knowledge of cryptocurrency, blockchain and other fintech and tech-related areas he has been covering for a long time.

Related News

Hot Stories

How to Stake Kava: Is 110% APY on BUSD legit?
Avalanche price analysis: AVAX continues to move upwards with $35 target
How to Stake on Uniswap: A Quick Guide to Passive Income
Aave price analysis: AAVE increases value by 3.5% after strong bullish movement
Ethereum price analysis: ETH wobbles near $1,700 as bulls desperate to touch $1,800

Follow Us

Industry News

Elon Musk drags Twitter to court for fraud
Binance CEO Urges To Move Funds From WazirX To Binance
Bitcoin falls to $23K on U.S. jobs report
How are the top cryptocurrencies selected?
Voyager Digital set to refund users with a $270 million fund