- Bitcoin cash coin is trading sideways under the tight range, and either side breakout will create strong momentum in upcoming trading sessions.
- The crypto asset over the monthly chart is trying to sustain above 20-DMA lines while comfortably trading above 50, 100, and 200-day lines.
- The pair of BCH/BTC is trading on a positive note at 0.01345 BTC with an intraday gain of +0.55%, and the ratio of BCH/ETH is CMP at 0.1727 ETH with a significant intraday loss of -3.37%.
Bitcoin cash coin is consolidating at the current scenario, after a strong bullish rally from the lower levels. Moreover, the currency is trading under the narrow range of $580 to $720 with below-average volume activity. Presently, BCH is placed just above all major moving averages of 20, 50, 100, and 200-day lines, while 20-DMA acts as a minor support line.
Either side breakout from the rangebound territory will create strong momentum in upcoming sessions. Whereas the level of $720 acts as a hurdle, and if it manages to break out above that will boost the token to $810 and $880. Support on the lower side is $580 and $490, whereas resistance on the higher side is $720 and $810.
Bitcoin cash 4-H is trading sideways with mixed technical parameters
Bitcoin cash coin over the weekly chart is trading sideways with mixed technical parameters over the chart. The crypto asset is trading on a slightly bullish note, whereas the RSI also indicates positive bias. At the same time, volume activity over the 4-hour chart is still lower and recording near the average line. Presently, the Bitcoin Cash is trading at $674 with a flat intraday action of +0.90%, and the volume to market cap ratio is at 0.2632.
Relative Strength Index (BULLISH): Bitcoin cash RSI presently indicates a sideways trend with a positive bias after consolidation over the weekly chart. In contrast, the RSI trades at the higher zone while heading towards the overbought area and now CMP at 62.
Moving Average Convergence Divergence (MIXED): The daily chart indicates a mixed trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) and the seller’s line (red) overlaps, with no sign of clear momentum.
Support levels: $580 and $490
Resistance levels: $720 and $810.