- Bitcoin cash trading under the tight range of 100 to 200-Day moving average acting as support and resistance, respectively
- The digital asset is CMP near the vital moving average of 200-DMA with average volume activity and also trading below all DMA of 20, 50 and 100-Day
- The pair of BCH/BTC is trading under pressure with a minor loss of -1.98% at 0.01808 BTC; whereas, BCH/ETH is CMP at 0.2514 ETH with a loss of -1.48% in the last 24-hours
Bitcoin cash over the monthly time horizon is trading near the support zone of the 200-day moving average. However, if the Bulls manage to hold the moving average (DMA) of 200-Day, a good recovery is soon expected. Moreover, the closing of day candles below 200-DMA will create more trouble for Bulls. The volume over the monthly chart falls below the average line and needs to improve for a positive pullback.
Support on the monthly chart is set at $610 and $480; likewise, $785 and $845 will act as resistance levels. Since the Bitcoin dominance is near 41%, and stability of BTC will open the door for adults to grow in upcoming trading sessions.
Bitcoin Cash Showcases a Range-Bound Trade
Over the weekly time frame, Bitcoin cash showcases a range-bound trade, as it is trading sideways. At the same time, the technical parameters are also highlighting the same with no clear directional momentum. Currently, Bitcoin Cash is dealing at $667 levels with an intraday loss of -6.53%, and volume is present at $2,515,668,320 with an intraday jump of +13%. Either side breakout will create good momentum in upcoming trading sessions.
Relative Strength Index (NEUTRAL): Bitcoin cash RSI is presently highlighting a neutral trend over the weekly chart after correcting from the overbought zone standing at 42 levels.
Moving Average Convergence Divergence (NEUTRAL): Currently trading with the mixed crossover on a daily chart. The buyer’s signal line (green) and the seller’s line (red) overlap each other.
Support levels: $610 and $480
Resistance levels: $785 and $845