- Bitcoin cash price analysis reveals cryptocurrency is going bullish as per analysis.
- Price levels gain stability as price goes above $641.
- Support is fixed at $603 at the time of writing.
The Bitcoin cash price analysis is giving us strong bullish signals for the day. The bullish tide has been very strong as the price levels are rising at a frequent and regular rate.
The price is present at the $642 level which is quite an accomplishment for the buyers. Further advancement from the bullish side is to be expected as the support is stabilized below the $602 level.
BCH/USD 1-day price chart: Bulls overcome bears after being grounded for a while
The given one-day price chart for Bitcoin cash price analysis is depicting cryptocurrency value is going in a bullish direction. The day has been quite supportive for the buyers as more and more green candlesticks are securing their positions on the price chart.
The price levels are rising slowly and right now the price value has reached the $642.15 level which is an appreciable recovery. The bulls are progressing at a very slow pace as the moving average (MA) is still ahead of the current price i.e. at $645.21.
The volatility, on the other hand, has which should be taken as a negative sign. The upper value of the Bollinger band is now $753 and its lower value is now present at the $578.35 mark. Lastly, the Relative Strength Index (RSI) score has also undergone slight improvement but and it is now at the 48.42 point.
Bitcoin cash price analysis: Bullish pressure results in a higher price near $641
The 4 hours BCH price chart for Bitcoin cash price analysis is telling us that the bars have been quite high for the bulls today. The circumstances have been highly favorable for the bulls from the past several hours as the bulls are dedicated to cross the $659 resistance.
So far their journey has been impressive as they have taken the BCH price value to $642. The 4-hours price chart is also showing the moving average to be at $633, and the Bollinger bands average to be $631.
As the volatility is continually increasing, the upper Bollinger band value has gone up to $659, and its lower band has moved down to $603, during the past four hours. As the chances have been high for the bulls, the RSI score has also increased as a result and is now placed at the 56 position.
As BCH has recovered from a loss that took place in the past few weeks, its technical indicators chart is giving a negative signal to the buyers. The overall sentiment of the market has been bearish as there are 10 indicators at the selling point, nine at the neutral point, and seven are left at the buying point.
If we move on towards the Moving Averages indicator then it is displaying quite similar results for cryptocurrency. There are eight indicators remaining at the selling point, six at the buying one, and only one indicator is found at the neutral point.
The competition has been really fierce and equally challenging for both sides, which is why the Oscillators are showing neutral signals. There are eight oscillators at the neutral level, one at buying and two oscillators are at the selling level.
Bitcoin cash price analysis conclusion
The given Bitcoin cash price analysis is declaring that the bulls are leading at the front position, as the price has undergone significant recovery today as well. The past week has been very supportive towards the buyers’ side and the same trend has followed for today as well. Thus, the BCH price has been raised and is now present at the $642 mark. The support is at a very safe position as it is quite far below as compared to the price value i.e. at $603.
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