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Bitcoin Cash price analysis: BCH/USD drops below $250, currently going through consolidation

FX Street
Updated:
  • The 20-day Bollinger jaw has widened, showing increasing price volatility.
  • The Elliott Oscillator has had 13 straight red sessions.

BCH/USD is on course of charting two straight bearish days. This Monday, the price of BCH/USD dropped from $266 to $246, going below the $250-level, the 50-day Simple Moving Average (SMA 50) and the lower Bollinger curve in the process. Currently, Bitcoin Cash is priced at $244.75. The hourly breakdown of Monday shows us that BCH/USD dropped from $262.50 to $246.25 within four hours, before settling around $244.75.

BCH/USD daily chart

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The daily price is trending below the SMA 20, SMA 50 and SMA 200 curves. The 20-day Bollinger jaw has widened, indicating increasing price volatility. The Moving Average Convergence/Divergence (MACD) shows decreasing bearish momentum, while the Elliott Oscillator has had 13 straight red sessions. The Relative Strength Index (RSI) indicator is trending around 39.30.

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