Will Bitcoin Cash Price Manages to Hold $500-DMA line?

  • Bitcoin cash price over the monthly chart is trading below major moving averages of 20, 50, 100, and 200-Day lines, with below-average volume action.
  • The crypto asset is underperforming among the other Altcoins, with the last seven-days changes of -15% CMP at $539. 
  • The pair of BCH/BTC is trading at 0.01225 BTC with a 24-hour gain of -1.05%, and the ratio of BCH/ETH is CMP at 0.176 ETH with a minor intraday dip of -0.14%. 
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Bitcoin cash price at the monthly chart is placed below its all vital moving averages, while short-term moving averages are heading lower. Presently, the crypto asset is trying to hold its psychological support level of $500 over the chart. The crypto asset is trading under pressure; although formed a green candle, the chart structure is still looking neutral to bearish. The short to medium-term trend is still looking bearish, as the crypto asset is below all major DMA lines of 20, 50, 100, and 200-Day.

Likewise, if the coin regains 100 and 200-DMA lines, a supportive volume action will boost more confidence of bulls. Volume over the monthly chart is lower and needs to grow strongly for a strong reversal in upcoming trading sessions. Support on the lower side is $480 and $420, whereas resistance on the higher side is $620 and $710.

Bitcoin cash price is trading flat after a minor recovery

https://themarketperiodical.com/
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Bitcoin cash price over the weekly chart is trading flat after a minor recovery from the lower levels. At the same time, volume over the 4-hour time frame is lower and needs to grow strongly for a good reversal in upcoming trading sessions. The technical parameters are trading flat or neutral after recovery from the oversold zone. BCH token is trading at $539 with a minor intraday drop of -0.89%, and the volume to market cap ratio is at 0.5307. 

Relative Strength Index (NEUTRAL): Bitcoin cash price RSI is trading flat over the weekly chart. In contrast, the RSI is trading flat after testing the oversold zone and CMP at 42.    

Moving Average Convergence Divergence (BULLISH): The daily chart indicates a positive trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) is overpowering the seller’s line (red); also, both the lines are heading closer.      


Support levels: $480 and $420  

Resistance levels: $620 and $710.