Rajarshi Mitra
Independent Analyst
- BCH/USD has gone up from $399.50 to $433.15 in the last five days.
- The price is currently trending in an upwards channel formation.
BCH/USD daily chart
-636982424746866377.png)
BCH/USD has gone up from $419 to $433.15 in the early hours of Tuesday. Bitcoin Cash is currently in the middle of a 5-day bullish streak and is trending in an upwards channel formation. The latest session broke past the resistance offered by the 50-day simple moving average (SMA 50) curve, but it is still below the SMA 20 curve. The moving average convergence/divergence (MACD) curve shows that the signal line is about to cross over the MACD line, indicating a reversal in bearish momentum.
BCH/USD 4-hour chart
-636982425031262813.png)
The SMA 20 curve has crossed over the SMA 50 curve, which is a bullish sign. Following the intersection, 4-hour BCH/USD has had three straight bullish sessions. These sessions have also broken past the triangle formation. The relative strength index (RSI) indicator is trending around 62.50. The latest price session has even gotten past the SMA 200 curve.
BCH/USD hourly chart
-636982425308443274.png)
The hourly BCH/USD chart has found resistance on the $424.50 level. The three latest price sessions are trending above the red Ichimoku cloud. Eight out of the last nine sessions in the Elliot oscillator have been bullish.
Key Levels
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
Lukas Enzersdorfer-Konrad, Bitpanda deputy CEO: “Crypto needs Gary Gensler gone”
Lukas Enzersdorfer-Konrad is the deputy CEO at Bitpanda, a broker based in Europe with more than five million users. At the European Blockchain Convention held in Barcelona, the executive shared with FXStreet his views on the current state of the crypto industry and its regulation.
Bitcoin still consolidates despite positive spot ETFs demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
Why is ONDO’s price outlook bullish?
DefiLlama data shows that Ondo TVL reached a new ATH of $613.75 million. Ondo’s Supply Distribution metric shows whale accumulation. On-chain data shows that ONDO’s daily trading volume is rising, and the supply of exchanges is decreasing.
Maker price eyes a rally on technicals and on-chain metrics
Maker trades above $1,500 on Thursday, suggesting a potential rally as technical indicators show bullish divergence. This positive outlook is reinforced by MKR’s Exchange Flow Balance, which shows a negative spike, indicating growing investor confidence in the platform.
Bitcoin: Fed-led rally could have legs towards $65,000
Bitcoin is poised for a second consecutive week of gains, supported by the recent 50-basis-point cut in interest rates by the Federal Reserve. Bitcoin broke above several key technical resistances this week, signaling a rally continuation.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.