- Bitcoin cash token recovery jumps above its short-term moving average of 20-day lines, with lower volume activity.
- The crypto asset is now heading towards the vital moving averages of 50, 100, and 200-day lines and has also broken its minor resistance zone.
- The pair of BCH/BTC is trading at 0.01195 BTC with a 24-hour gain of +4.30%, and the ratio of BCH/ETH is CMP at 0.167 ETH with an intraday growth of +1.49%.
Bitcoin cash token has given a breakout of minor support line over the monthly chart and regains its SMA of 20-day. The crypto asset over the monthly chart is now heading towards the vital moving averages of 50, 100, and 200-days. The coin at the higher side is now moving towards the upcoming critical moving averages. Whereas BCH bulls now have to watch above the vital moving averages of 50, 100, and 200-day lines.
The closing above its major DMA lines in upcoming trading sessions, with supportive volume activity, will create more upside for bulls. Volume over the monthly chart is lower and needs strong growth in forthcoming trading sessions. Support on the lower side is $480 and $420, whereas resistance on the higher side is $610 and $660.
Bitcoin cash token has given a breakout above its supply zone of $545 to $560
Bitcoin cash token over the weekly chart has given a breakout above its supply zone of $545 to $560. After a strong rally from the lower levels, the technical parameters are now reached near the overbought zone. In the current situation, bulls have to keep caution over the longs, as the counter is near the overbought territory. BCH token is trading at $570 with an intraday gain of +3.92%, and the volume to market cap ratio is 0.122.
Relative Strength Index (CAUTION): Bitcoin cash token RSI is trading under the overbought zone after gradually recovering from lower levels. The coin is trading near the higher area, with caution for longs and CMP at 72.
Moving Average Convergence Divergence (BULLISH): The daily chart indicates a bullish trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) overpowers the seller’s line (red).
Support levels: $480 and $420
Resistance levels: $610 and $660.
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