Bitcoin Cash Price Analysis (BCH/USD)
In the last 24hrs, Bitcoin cash has maintained a bearish run. The same trend is most likely to continue since the 21 day MA is actively trading above the 7 day MA. BCH/USD pair corrected losses yesterday to trade below the critical resistance level at $322.0. Additionally, the bearish pressure has defined the support level near $312.2.
The price was later on fluctuated further down to consolidate below $304.3. Apparently, BCH/USD pair escalated from $321.4 to currently changing hands at $303.9 that translate to a minimal dip of 5.4% over the intraday.
In addition, the RSI indicator (X) that moved from a high of 50 to the oversold zone also reflected the downward move. The bearish move also signaled a reduction in the investor’s sentiments that resulted in an increase in sellouts over the last 24hrs.
Bitcoin Cash Price Prediction (BCH/USD)
At the moment, all the technical indicators point at the fact that the incoming trend is bearish since they are both trading southwards. A…