Bitcoin Cash Price Prediction: BCH/USD Averages Lower Level at $400

BCH Averages Lower Level r – July 14
The BCH/USD trade operation averages a lower level at $400 as the crypto’s price trades around the value of $449. The market records a negative percentage rate of 3.46 as of writing.

Averages Lower Level: BCH Market
Key Levels:
Resistance levels: $600, $800, $1,000
Support levels: $400, $300, $200

BCH/USD – Daily Chart
There has been a continued featuring of smaller bearish candlesticks on the BCH/USD daily chart. In light of that, the crypto’s price now averages a lower level at $400. The two SMAs also thinly bent southward over the current market’s trading line. The 50-day SMA trend-line is over the 14-day SMA trend-line with a space between them. The bearish trend-line drew downward across the SMAs as the Stochastic Oscillators freshly moved into the oversold region, pointing briefly southbound in it to indicate that a downward force is going on in the crypto economy.

Will the BCH/USD market dip further as the price averages a lower level at $400?

Presently, the crypto’s journey is still relative to the southward. Meanwhile, as the BCH/USD market averages a lower level at $400, bulls needed to gear up in preparation to make a re-launch of their positions in the crypto space. A touch of that point may allow a slight rebounding motion to bring about a tangible return of an upward trend. One thing that is equally needed to put in mind is that the crypto market is still trading in range-bound zones that have the level of $600 as the upper range line and the point earlier mentioned as its lower range line.

As the crypto market averages the lower level termed as lower range line, bears’ capacity appears getting fade in a gradual process. The reading of the Stochastic Oscillators indicated that the crypto trade reached an oversold trading situation that signifies a degree of weakness in the counter trading instrument the base tool will be getting set to swing northward in the near time.

BCH/BTC Price Analysis

In comparison, the Bitcoin Cash’s trending capacity pairing with Bitcoin appears lowering southward on the price analysis chart. The 50-day SMA indicator is over the 14-day SMA indicator with the bearish trend-line drawn downward across them. The Stochastic Oscillators are in the oversold region, slightly pointing toward the south to indicate that the base crypto may lose more to the flagship counter crypto. However, the downward move isn’t to be on a higher note. Also, it may still hold in a range moving formation.


Looking to buy or trade Bitcoin Cash (BCH) now? Invest at eToro!

75% of retail investor accounts lose money when trading CFDs with this provider.

Remember, all trading carries risk. Past performance is no guarantee of future results.

Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.

Leave a Reply

Your email address will not be published. Required fields are marked *