Home Bitcoin Cash price analysis: BCH/USD strings together four bearish days, drops below  $300
Crypto News

Bitcoin Cash price analysis: BCH/USD strings together four bearish days, drops below  $300

FX Street
Updated:
  • BCH/USD has gone down from $299.25 to $297.35 in the early hours of Thursday
  • The market has found support on the SMA 20 curve.

BCH/USD is on the course of having four straight bearish days. In the early hours of Thursday, Bitcoin Cash has gone down from $299.25 to $297.35. Over the last four days, BCH/USD has gone down from $307.30 to $297.35. The hourly breakdown of Wednesday makes for some interesting reading. The price dropped from $304 to $293.80 before the bulls stepped back in and took BCH/USD up to $299.25. This Thursday, the bears have taken full control and brought the price down to $297.35.  

BCH/USD daily chart

fxsoriginal

The price is trending above the 20-day simple moving average (SMA 20), which acts as immediate market support. The price is also trending below the SMA 50 and SMA 200 curves. The moving average convergence/divergence (MACD) indicator shows sustained bullish momentum, while the Elliott oscillator has had a bearish session after ten straight bullish sessions.
 

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