Bitcoin Cash price analysis: BCH gains 10 percent value as bullish momentum inflates to $619

Bitcoin Cash price analysis BCH gains percent value as bullish momentum inflates to

TL;DR Breakdown

  • Bullish momentum is on the rise once again.
  • Price reached $619 height during the day.
  • Support level is found at $452.

The latest Bitcoin Cash price analysis is dictating that the bullish momentum has been at its peak since the past week. The price has increased tremendously and is now settled at $620 in the one-day price chart. The bulls have been succeeding so far as the price has been traveling in the upwards direction at a continuous rate. More opportunities are becoming available for the buyers, as the coin value is going up.

BCH/USD 1-day price chart: Bullish wave causes price to surge above $619

The price has been rising consistently according to the one-day Bitcoin Cash price analysis. The past week’s price movement reveals that the bullish momentum has uplifted the price at a great level. The buyers have contributed immensely to the recent improvement in BCH price which is now at $620. This is why the moving average (MA) value is now $560 and is expected to heighten in the coming week as well.

Bitcoin Cash price analysis: BCH gains 10 percent value as bullish momentum inflates to $619 1
BCH/USD 1-day price chart. Source: TradingView

The volatility has increased because of the expansion in Bollinger bands. This has caused certain changes in the Bollinger band values; as now the upper value is resting at $640.25 while the lower value is at $452. The Relative Strength Index (RSI) score is now touching the 58.04 peak as well.

Bitcoin Cash price analysis: BCH price recedes back to $620.12 after losing stability

The four hours Bitcoin Cash price analysis is indicating a downward price movement, as the price underwent a slight decline. The price is at the $620.14 level now, as the bears are striving to make a comeback on the price chart. Red candlestick is confirming the selling pressure, and the bullish spell has been broken down. Other indicators include the moving average and its value is currently settled at $605.21.

Bitcoin Cash price analysis: BCH gains 10 percent value as bullish momentum inflates to $619 2
BCH/USD 4-hours price chart. Source: TradingView

The price drop is to intensify in the future as well as the volatility has increased. The Bollinger band Indicator is displaying the following figures; its upper value is now at $637 whereas its lower value is at $526.11. The RSI score is still at a high position as it is at 65 at the time of writing.

Bitcoin Cash price analysis: BCH gains 10 percent value as bullish momentum inflates to $619 3
BCH/USD technical indicators chart. Source: TradingView

The technical indicators chart for BCH is giving out a bullish signal for the day as the overall progress of the price has been appreciable. The buying position is holding 14 indicators, the neutral position has nine indicators while the selling position has three indicators.

The moving averages indicator is giving positive signals for the buyers as well because of the consistency in bullish momentum. There are 12 indicators on the buying position, whereas two indicators are present on the selling and one on the neutral positions. The Oscillators, on the other hand, are going quite neutral for the day as there are eight oscillators on the neutral level, two on the buying and one on the selling level.

Bitcoin Cash price analysis conclusion

The one-day and four hours Bitcoin Cash price analysis is predicting a bullish trend for the day as the price has climbed up to $620. The BCH price has been moving forward quite persistently, and a further increase in the price is possible in the coming week. Although the bears tried to overpower the bulls in the last four hours, the overall circumstances are in the bullish favor.

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.
Arnold Kirimi

Arnold Kirimi

Arnold is a crypto and blockchain enthusiast. A communications expert with interest in hard-hitting journalism, he is always on the hunt for the latest events in the cryptocurrency world. He is inspired by what Bill Gates said, “Bitcoin is a technological tour de force.”

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