Rajarshi Mitra
Independent Analyst
- BCH/USD went up from $343.20 to $348.35 this Wednesday.
- The MACD indicates decreasing bullish momentum.
BCH/USD daily chart
-637153474932200660.png)
BCH/USD dropped from $348.35 to $340.40 so far this Thursday, following three bullish days. The price is currently trending in a flag formation and has encountered resistance at the downward trending line. The price is hovering above the green Ichimoku cloud, SMA 200, SMA 50 and SMA 20.
On the downside, the MACD indicator shows decreasing bullish momentum, while the Elliott Osillcator has had four straight red sessions. The Relative Strength Index has also crept below the overbought zone, indicating bearish market sentiment. Currently, the bulls will need to protect the $340-line and prevent any further downward movement.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
XRP Price Prediction: XRP battles tariff turbulence amid MVRV buy signal
Ripple (XRP) seeks stability in a volatile crypto landscape influenced by macroeconomic factors, including reciprocal tariffs. The international money transfer token hit a low of $1.64 on Monday after opening the week at $1.92, representing a 14.5% daily drop.
Trade war escalates crypto market downturn amid President Trump's new tariff announcement
The cryptocurrency market extended its decline on Monday, stretching its market capitalization loss to $250 billion since the US slapped tariffs on international trading partners.
Chinese Yuan devaluation could drive Chinese capital flight into Bitcoin– says Arthur Hayes
BitMEX co-founder Arthur Hayes highlighted a potential Chinese Yuan devaluation in his X post on Tuesday, suggesting it could drive Chinese capital flight into Bitcoin. Arthur says this trend worked in 2013 and 2015 and can work in 2025.
Crypto whales buy 874 billion SHIB as Shiba Inu price plunges to lowest in 13 months
Shiba Inu (SHIB), one of the most talked-about meme coins in the cryptocurrency space, took a sharp nosedive on Monday, plunging below the $0.00001 threshold for the first time since February 2024.
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin (BTC) price remains under selling pressure and trades near $84,000 when writing on Friday after a rejection from a key resistance level earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.