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- 1 The Bitcoin Cash crypto’s price decreased by 13.44% over the last week and it is trading below all major EMA’s.
- 2 The price of the BCH crypto is trading at $219.45 and the 52-week range is $87 – $327.
The BCH crypto has not performed well in the last month, decreasing by 11.47% but surged by 73.52% in the last six months. Bitcoin Cash (BITSTAMP: BCH) crypto has a positive year-to-date return of 125.71% and a negative one-year return of 90.46%.
Bitcoin Cash crypto surged by 1.37% in market value and plummeted by 45.67% in trading volume in the last 24 hours, as per the Coinmarketcap, a crypto data analysis website. Its market value is $4,280,366,207 and its trading volume is $297,902,121. There are 19,491,431 BCH in circulation.
BCH Crypto Price Technical Analysis in the 1-Day Timeframe
BCH crypto price showed a downward trend for the past month, decreasing by 11.47% during this period and the price fell by making lower lows and highs.
At the time of publication, the BCH crypto price is trading at $219.45 and facing resistance from the trendline. The price boosted upwards from the demand zone around $186 as the orders were present at this level.
Therefore, the BCH crypto price could continue to move downwards and reach the nearest support at $186 and $168. If it fails to maintain the current level.
However, if the BCH crypto price sustains the current level and rises, then it might hit the nearest resistance levels of $249 and $273.
At the time of publishing, the BCH crypto price (BITSTAMP: BCH) is trading above the 20, and 50-day EMAs (exponential moving averages), which are supporting the BCH crypto price trend.
The MACD line at 4.36 and the signal line at 8.73 are above the zero line and both lines cross each other forming a bullish crossover in the MACD oscillator. The current value of the RSI is 54.96 points and the 14-day SMA is below the median line at 37.56 points, which indicates bullish sentiments as the RSI is in oversold zone in the market for the BCH crypto and highlights bullishness.
Conclusion
BCH crypto price prediction highlights the bullish sentiments and perspectives of investors and traders regarding BCH crypto in the daily time frame. Bitcoin Cash price action highlights a bullish view at the time of publishing. Moreover, the technical parameters of the Bitcoin Cash price suggest the change of trend over the daily time frame chart. Major reliable indicators RSI, MACD, and EMA, give positive signals regarding the BCH crypto price.
Technical Levels:
- Support levels: The nearest support levels are $186 and $168.
- Resistance levels: The nearest resistance levels are $249 and $273.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
