Bitcoin Cash Price Analysis: A Flat Trend In BCH Price Action

BCH price is in a consolidation phase for now and the trend remains unclear for now
  • BCH price is consolidating at $544.40 on Saturday’s trading session
  • The 24-hour volume in BCH is at $1,899,681,230 with a 27.50% decrease
  • The BCH/BTC pair was trading at 0.009294 BTC with a gain of 0.84%

The 4-hour technical chart of BCH price projects a sideways trend. According to pivot points, Bitcoin Cash critical support level is placed at $515.55. Whereas if it moves up, the key resistance level to watch is $600.88. While diving into the weekly chart of a 4-hour time-frame, it completes a pin bar candlestick pattern.

SMA-20, 50 & 100 acts as another strong support in the coin. SMA-20 (purple) intersects below the SMA-50 (white), which projects a bearish trend. The price is also above SMA-100 (red). Investors may perceive a negative crossover in the SMA, and the price will also follow the negative trend for a short while.

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RSI indicator (BULLISH), with a value of 53.20, indicates a neutral signal in the coin. Moreover, Investors can see a flat slope in the index, and it may soar in future trading sessions.

BCH Price Trend Remains Unclear

BCH price traded at $544.40 with a gain of 2.06% in the last 24-hour. Furthermore, BCH price is in a consolidation phase for now and the trend remains unclear for now. In contrast, the market capitalization stands at $10.181 billion. Technically, investors can perceive a negative crossover in SMA. Moreover, the price movement can be predicted for now as it is in a neutral phase.

Resistance: $600.88

Support: $515.55

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Nikhil Ingolehttp://themarketperiodical.com
Mr, Nikhil Ingole is a cryptocurrency technical analyst with over seven years of technical analysis trading experience in Forex and Indian stock market. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. He possesses strong technical, analytical skills and is well known for his financial market's informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.

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