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Bitcoin cash price analysis: BCH bulls climb Mt. $630 to scale new heights

Cryptopolitan


TL;DR Breakdown

  • The latest BCH/USD updates shows an uprising bullish trend.
  • The Bitcoin cash price analysis shows bulls have taken the price to $625 today.
  • Resistance level at $631 is soon to be crossed.

The latest Bitcoin cash price analysis is showing an increasing bullish momentum. The price levels have significantly increased, and the value has reached above the $625 level.

The short-term trending line is also going in the favor of the bulls, yet the long-term trend has been bearish in nature. Bitcoin Cash price analysis shows that the price is expected to soon cross the barrier at $631, and push on higher.

BCH/USD 1-day price chart: Bullish momentum holds price from declining further

The 1-day price chart showing cryptocurrency values is going slightly towards the bullish direction today. The momentum is considerable as the price has faced an uplift to $628, after a growing bearish pressure in past.

The bulls are now taking the lead, and the past months have been favorable for bulls as well as the moving average (MA) is at $656 of height. The volatility is decreasing which can be deemed as a positive indicator for cryptocurrency in the future as per Bitcoin Cash price analysis.

BCH/USD 1-day price chart. Source: TradingView

The Bollinger bands indicators are showing the following values in the price chart; the upper band is at $720 while the lower band is at $566, respectively. The Relative Strength Index (RSI) score is increasing as well and has reached the value of 52.

Bitcoin cash price analysis: Bullish breakout leads to price shooting past $625.31

The 4-hours Bitcoin cash price analysis chart is showing a significant rise in the price levels after it faced a rapid decline in the near past. The price is onto climbing past its current value which is $625.3 to give further advantage to the bulls. The moving average is $613 in the 4-hours price chart, and much lower than the price value as the bullish momentum has been huge. The volatility is decreasing as well, which is also a positive indication for the value of the asset.

Bitcoin cash price analysis: BCH bulls climb Mt. $630 to scale new heights 2
BCH/USD 4-hours price chart. Source: TradingView

The short-term trending line is going in the bullish direction as well, and the Bollinger bands are making an average of $631. The RSI score is also increasing gradually and has reached 45, as more buyers are approaching the market.

Bitcoin cash price analysis: BCH bulls climb Mt. $630 to scale new heights 3
BCH/USD technical indicators chart. Source: TradingView

The competition during the last few hours has been tough, which is why the technical indicators chart is showing a neutral signal. The number of buyers and sellers has been almost balanced out, as nine indicators are present at the buying position, seven at the selling, and 10 are at the neutral position.

The moving averages are showing a buying signal, as there has been high pressure from the bullish side today. There are a total of eight indicators present at the buying position, six at the selling position, and one is at the neutral position.

The oscillators are also showing a neutral signal, with a total of eight oscillators being present at the neutral side, and one indicator each is present on both the selling and buying positions.

Bitcoin cash price analysis conclusion

The 1-day and 4-hours Bitcoin cash price analyses are showing positive signals for the bulls, and it is high time for the buyers to purchase the assets. The past few hours have been critical for the cryptocurrency, yet today the bulls have been able to break through the resistance barrier.

The price has increased to $625, and a further increase is to be expected if the market remains supportive of the bulls. If the support remains strong at $594, then there will be a greater chance for the bullish momentum to grow.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.



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