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10 December 2022
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Bitcoin

BCH Price Analysis: Will the Bitcoin Cash bulls be able to steady the ship?

•BCH/USD is currently priced at $100.49 and has decreased by 0.89% over the past day

•The trading volumes have increased by 37.58% over the past day

•The technical indicators suggest a bearish outlook for the near term 

Short Term View: Bitcoin Cash struggling to attract buyers at the current price levels 

Source: BCH/USD by TradingView

The Bitcoin Cash price today is $100.49 USD with a 24-hour trading volume of $250,156,543 USD. Bitcoin Cash is down 0.89% in the last 24 hours. The trading volumes have increased over the past day amid increased investor activity whereas the Volume to Market Cap Ratio stands at 0.1295 for the altcoin.

After a period of intense selling activity, Bitcoin Cash has had a breather in the market as the bulls have tried to exert greater influence in the market. The momentum is still overwhelmingly bearish however, as is demonstrated by the BCH Price currently transacting below the 20,50 SMA on the four hour chart. The breach support level placed at $95 will mark a return of the bears in the market whereas on the oft chance that BCH manages to break out of the system and scale the $105 resistance level, it could lead to the resurgence of the bulls in the market. 

Long Term View for BCH

Source: BCH/USD by TradingView

The RSI for Bitcoin Cash has come under the scanner in recent days and has slipped to 41.77. The intense selling pressure prevailing in the market has eased somewhat on Monday as the red histograms have decreased slightly on the daily chart. However, the momentum remains firmly sided with the bears as the MACD and signal lines continue to transact in the negative zone.

Conclusion 

With the continued influx of sellers in the market, Bitcoin Cash hasn’t had the chance to regroup and trigger another northbound move. The bulls have arrested the slide somewhat,  but the momentum is still firmly sided with the bears.

Support: $95

Resistance: $105

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

•The technical indicators suggest a bearish outlook for the near term 

Short Term View: Bitcoin Cash struggling to attract buyers at the current price levels 

Source: BCH/USD by TradingView

The Bitcoin Cash price today is $100.49 USD with a 24-hour trading volume of $250,156,543 USD. Bitcoin Cash is down 0.89% in the last 24 hours. The trading volumes have increased over the past day amid increased investor activity whereas the Volume to Market Cap Ratio stands at 0.1295 for the altcoin.

After a period of intense selling activity, Bitcoin Cash has had a breather in the market as the bulls have tried to exert greater influence in the market. The momentum is still overwhelmingly bearish however, as is demonstrated by the BCH Price currently transacting below the 20,50 SMA on the four hour chart. The breach support level placed at $95 will mark a return of the bears in the market whereas on the oft chance that BCH manages to break out of the system and scale the $105 resistance level, it could lead to the resurgence of the bulls in the market. 

Long Term View for BCH

Source: BCH/USD by TradingView

The RSI for Bitcoin Cash has come under the scanner in recent days and has slipped to 41.77. The intense selling pressure prevailing in the market has eased somewhat on Monday as the red histograms have decreased slightly on the daily chart. However, the momentum remains firmly sided with the bears as the MACD and signal lines continue to transact in the negative zone.

Conclusion 

With the continued influx of sellers in the market, Bitcoin Cash hasn’t had the chance to regroup and trigger another northbound move. The bulls have arrested the slide somewhat,  but the momentum is still firmly sided with the bears.

Support: $95

Resistance: $105

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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