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Bitcoin Cash Price Analysis: BCH/USD consolidates its price between $240 and $245

FX Street
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  • BCH/USD is hovering below the green Ichimoku cloud in the daily chart.
  • The SMA 20 curve has crossed over the SMA 50 curve, which is a bullish sign.

BCH/USD daily chart

BCH/USD daily chart

BCH/USD had a bullish start to Thursday as the price has so far gone up from $239.75 to $240.45. Before this, the price dropped from $242.80 to $239.75 this Friday. The price is consolidating between $240 and $245, below the green Ichimoku cloud. The 20-day Simple Moving Average (SMA 20) has crossed over with the SMA 50 curve, which is a bullish sign. Along with that, the Elliott Oscillator and Moving Average Convergence/Divergence both indicate overall market sentiment is still bullish. Finally, the Relative Strength Index (RSI) indicator is creeping along next to the overbought zone.
 

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