Home Bitcoin Cash market overview: Buyers and sellers cancel each other as BCH/USD keeps plodding along
Crypto News

Bitcoin Cash market overview: Buyers and sellers cancel each other as BCH/USD keeps plodding along

FX Street
Updated:
  • BCH/USD is currently priced at $219.15 in the early hours of Friday.
  • The Relative Strength Index (RSI) indicator can’t creep out of the oversold zone.

BCH/USD bears crept ahead of the bulls as the price continued its horizontal movement. The price has continued to consolidate itself in a flag formation, waiting for a potential breakout. The hourly breakdown shows us that BCH/USD had dropped to $218.80 before correcting itself around $222.65 as Thursday came to a close. As soon as the Friday session began, the bears managed to drop BCH/USD from $222.65 to $220.35, before falling a little bit further to $219.15.

BCH/USD daily chart

fxsoriginal

The price is trending below the 200-day, 50-day and 20-day Simple Moving Average (SMA 200, SMA 50 and SMA 20) curves. The 20-day Bollinger jaw keeps widening, indicating increasing market volatility. The Moving Average Convergence/Divergence (MACD) indicator shows decreasing bearish momentum, while the Relative Strength Index (RSI) indicator is trending at the edge of the oversold zone.
 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2024