Bitcoin Cash Price Analysis

0
620
bitcoin cash value
  • Bitcoin cash performed positive momentum on Saturday’s trading session
  • Bitcoin Cash value is $433.54, which is up by 2.65% in last 24 hour time frame and is 11.61% down from the previous week
  • BCH/BTC pair is positive with a gain of 0.35% in Saturday’s trading session (0.013386)
Source: Coinmarketcap

Bitcoin Cash value projects a positive surge on the weekly chart, and it went up to $629.80 on January 10, 2021, while breaking above the resistance zones created in the past. BCH price set a mark of 52-week high with help of overall market conditions. The BCH/ETH pair is in downtrend with a value of 3.24% in Saturday’s trading session (0.3463).

Bitcoin Cash Technical Chart Indicates a Bearish Momentum

Source: TradingView

The technical chart of Bitcoin Cash highlights a positive trend with the help of overall market conditions on Saturday’s trading session. BCH current price is $433.54, with a resistance zone of $547.00, following the support zone of $409.50. Diving into the weekly chart of 1-hour time frame, it forms a dragonfly bearish candlestick pattern, indicating a sell signal in coin.

The Volume indicator of value (681) reflects a low selling volume in coin due to the overall market’s condition. Traders can further see an increase in selling volume in the next few trading sessions.

MACD indicator (Neutral), Soon, a bullish crossover signal line, may form on January 23, 2021, during the trading session, it indicates a neutral signal in the coin. Also, it denotes ending of red bars in the Histogram.

Meanwhile, the RSI indicator (Bearish) with a value of 40 indicates a sell signal in the coin. It may soon move towards the oversold territory if selling increases in the coin.

Conclusion 

Bitcoin Cash price is up by 2.65% on Saturday’s trading session. The price is consolidating for now and can see no signs of positive retracement during the session. So the trend remains negative price may fall till the support zone of 409.50

Resistance: $547.00

Support: $409.50

Join The Coin Republic’s Telegram Channel for more information related to CRYPTOCURRENCY NEWS and predication.

How useful was this post?

Click on a thumb to rate it!

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

LEAVE A REPLY

Please enter your comment!
Please enter your name here