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Bitcoin Cash price analysis: BCH/USD bullish for the next 24 hours

Bitcoin Cash price

TL;DR Breakdown

  • Bitcoin Cash price analysis is bullish.
  • Price has increased up to $294.4.
  • Support for BCH/USD is present at $286.

The Bitcoin cash price analysis is bullish for the next 24 hours. Price has increased up to $294.4, and support for BCH/USD is present at $286. The next resistance for BCH/USD is at $299.4.

The resistance for this cryptocurrency is currently at $294.4, and the support is at $286. The MACD indicator’s signal line is above the MACD histogram, indicating that the bulls are in control of the market. The Relative Strength Index (RSI) is also in favor of the bulls and is currently at 58. The Chaikin Money Flow (CMF) is also positive, with a value of 0.09. These indicators point to an overall bullish sentiment in the market.

The price of Bitcoin Cash has increased from $286 to $294 in the last 24 hours. The current market cap for Bitcoin Cash is $5.1 billion. The volume has also increased to $368 million in the past 24 hours. The largest exchanges that are trading Bitcoin Cash are Binance, Bitfinex, and Huobi.

BCH/USD 1-day price chart: BCH gains one percent

The one-day Bitcoin cash price analysis is bullish, as the price has increased by one percent in the last 24 hours. The bulls are currently in control of the market and have been able to push the price upwards. The resistance for this cryptocurrency is at $294.4, while the support is at $286.

The MACD indicator’s signal line is above the MACD histogram, indicating that the bulls are in control. The RSI is also in favor of the bulls and is currently at 58. The CMF is also positive, with a value of 0.09. These indicators point to an overall bullish sentiment in the market.

Bitcoin Cash price analysis: BCH/USD bullish for the next 24 hours 1
BCH/USD 1-day price chart. Source: TradingView

The volatility for Bitcoin cash is high, as the ATR is currently at $24. The cryptocurrency has a market cap of $5.1 billion, and the volume has increased to $368 million in the last 24 hours. The largest exchanges that are trading Bitcoin cash are Binance, Bitfinex, and Huobi.

The price of Bitcoin Cash is currently at $294.4 and has increased by one percent in the last 24 hours. The bulls are in control of the market, and the RSI is currently at 58. The MACD indicator’s signal line is above the MACD histogram, indicating that the bullish sentiment is increasing. The Chaikin Money Flow (CMF) is also positive, with a value of 0.09. These indicators point to an overall bullish sentiment in the market.

Bitcoin Cash price analysis: Recent developments and further technical indications

The 4-hour Bitcoin Cash price chart is shown below, with the latest price developments and further technical indications.

Bitcoin Cash price analysis: BCH/USD bullish for the next 24 hours 2
BCH/USD 4-hour price chart. Source: TradingView

The market is currently in an uptrend, as indicated by the upward-sloping trendline. The price has recently broken above the $290 resistance level and is now heading towards the next major resistance at $300.

On the downside, support is seen at the $285 and $280 levels. The RSI is overbought and could correct lower in the near term. However, overall, the bias remains bullish as long as the price stays above $285.

Bitcoin Cash price analysis conclusion

The bulls are trying to hold on to their position and raise the price level, as evidenced by the one-day and four-hour Bitcoin cash price analysis. The price has risen to $294.4; however, deflation is now taking place. We anticipate that BCH/USD will continue to rise after the correction ends in the next hours.

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.
William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

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