Bitcoin Cash Price Again Falls Below Essential Support lines

  • Bitcoin cash price over the monthly chart is trading under the strong grip of bears, as the crypto asset falls below its all vital moving averages. 
  • The digital asset is trading below its psychological support level of $500 and falls below its 20, 50, 100, and 200-day moving averages. 
  • The pair of BCH/BTC is trading at 0.01169 BTC with a minor 24-hour gain of +1.43%, and the ratio of BCH/ETH is CMP at 0.1686 ETH with an intraday increment of +3.43%. 

Bitcoin cash price is underperforming compared to other Altcoins, as presently dropped below its all vital moving averages. Meanwhile, volume over the chart is recorded near its average line and needs to improve sharply for a bullish reversal. At the time of writing, the crypto asset is trading below its psychological support levels of $500 and falls near its monthly lows. The SMA line of 20-DMA has given a negative crossover at the 50, 100, and 200-day lines. Bulls need to push the token higher if the volume action increases with the bullish candle formations. Support on the lower side is $480 and $420, whereas resistance on the higher side is $560 and $620.

Bitcoin cash price is creating divergence with the technical parameters

Bitcoin cash price at the weekly chart is creating divergence with the technical parameters. The coin is trading under pressure and now trying to get stable after a sharp decline from higher levels. The technical parameters are heading higher, creating a probability for upcoming bullish momentum at the 4-hour time frame. BCH is trading at $494 with an intraday drop of -1.39%, and the volume to market cap ratio is at 0.1385. 

Relative Strength Index (BULLISH): Bitcoin cash price RSI is trading under bullish momentum after recovery from lower levels. The coin is currently heading towards the higher zone with a gradual gain and CMP at 42. 

Moving Average Convergence Divergence (MIXED): The daily chart indicates a mixed signal with a positive trend at the 4-hour time frame. At the same time, the seller’s line (red) overlaps the buyer’s signal line (green).      

Support levels: $480 and $420

Resistance levels: $560 and $620.