Search ForexCrunch
  • Bitcoin Cash is trading 2.89% lower today as crypto sentiment remains weak.
  • Just recently price tried to break lower but is meeting some support.

 

Looking at the Bitcoin Cash hourly chart below you can see the price broke out of the triangle pattern to the downside.

This move has been rejected for now as the bull have come back in to take the price back above the support zone at 219.11.

The relative strength indicator (RSI) has also broken lower and is slowly edging toward the oversold zone.  

The value area on the chart is at 223.20 and the price is under that point at the moment but if we get a firmer confirmation of the rejection lets see if the price can push back up.

The longer-term trend is still lower but the market have built a base at around 200.00.

 

Bitcoin Cash Analysis