Bitcoin Cash Price Prediction: BCH/USD Market Operation Dumps at $400

BCH Market Operation Dumps r – July 20
The BCH/USD market operation dumps at the lower trading zone to trade around $394. The crypto sees a negative percentage of 4.84.

Market Operation Dumps: BCH Market
Key Levels:
Resistance levels: $500, $700, $900
Support levels: $300, $200, $100

BCH/USD – Daily Chart
On the BCH/USD daily chart, the crypto market operation dumps at the lower range-line marked at $400. The Stochastic Oscillators are in the oversold region with their lines conjoined, indicating a consolidation moving manner in it. The formation of trading candlesticks has been forthcoming in a tinier succession order beneath the SMA trend lines. The 50-day SMA indicator is above the 14-day SMA indicator as the bearish trend-line drew downward across them. All those indicators’ reading portends that the crypto market hasn’t been able to swing against the current downward motion.


Will there be a further breakdown at the $400 as the BCH/USD market operation dumps at it?

Being as it is, further breakdown at the level of $400 would have to be on a lighter note as even though the BCH/USD market operation dumps visibly. The US dollar still holds a bit tougher on the valuation of Bitcoin Cash. The present trading line may witness more variant lighter lows around it. Therefore, bulls would have to continually be on the lookout for an upswing from the depth of a lowly trading zone.

Regarding further down forces in this crypto economy, bears have to continually consolidate their presence by pushing in the style that they have been currently. The conjoining of Stochastic Oscillators’ lines in the oversold region will for long portend an uglier trading situation for the crypto. A forceful breakdown at the point of $400 will lead to bringing down the market operations further.

BCH/BTC Price Analysis

Comparing the trending capacity between Bitcoin Cash and Bitcoin, the base crypto is still seemingly losing momentum with the flagship counter crypto. The bearish trend-line drew southward across the SMAs. The 14-day SMA indicator is underneath the 50-day SMA. The Stochastic Oscillators are slightly bent southbound in the oversold region, portending that the motion to the downside is somewhat ongoing. That means the base crypto may still feature at a low trading point.

 

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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.

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