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Bitcoin Cash Price Analysis: BCH/USD falls below the $190-level

FX Street
Updated:
  • BCH/USD went down from $196.65 to $189.75 this Monday.  
  • The price is currently sitting on the support provided by the upward trending line.

BCH/USD daily price

BCH/USD daily chart

BCH/USD dropped from $196.65 to $189.75 this Monday and is trending in an upward channel formation. Currently, the price has fallen a bit more to $189.30. The bulls have found support on the upward trending line and need to encounter resistance at the 20-day Simple Moving Average (SMA 20) curve. The Moving Average Convergence/Divergence (MACD) indicates slightly bullish momentum, while the Elliott Oscillator has had four straight green sessions. The Relative Strength  Index (RSI) is hovering around 41.30, indicating that this Tuesday’s price action is going to be pretty sluggish.
 

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