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  • BCH/USD went up from $337.60 to $351.58 this Friday.
  • The MACD indicates that the market momentum is about to reverse from bearish to bullish.

BCH/USD daily chart

BCH/USD daily chart

Despite trending in an upward triangle formation, BCH/USD encountered resistance at the SMA 20 curve. In the early hours of Saturday, BCH/USD dropped from $351.58 to $347.38, going below the $350-mark in the process. This followed a heavily bullish Friday where the price went up from $337.60 to $351.58. The MACD indicates that the market momentum is about to reverse from bearish to bullish, while the Elliott Oscillator has had six straight green sessions going up from -76.895 to -52.527.