Bitcoin cash price analysis: Bulls conquer $640 resistsnce to march ahead

Bitcoin cash price analysis Bulls successfully overcome the towering bearish momentum, take price to $639

TL;DR Breakdown

  • Bullish momentum has been observed in the latest price chart.
  • Bitcoin cash price analysis shows, the bulls have been able to carry price above $640.
  • Support to go higher then $627, if bulls continue leading.

The latest Bitcoin cash price analysis is showing a rise in the price levels. The bulls have blocked the bearish momentum from bringing the price down further, and have caused an increase in the price up to $638.66.

The past few hours have seen an increase in the price as the bullish momentum has been overpowering the cryptocurrency. The price is expected to break the resistance at $649 if bullish momentum intensifies in the future.

BCH/USD 1-day price chart: Bulls regain strength after a bearish streak

The 1-day Bitcoin cash price analysis is dictating a subtle shift in the market trends, as the bulls are struggling to leave an impact after a bearish trend. The bulls have been able to cause little difference in the price, as it has reached the $348 level.

Still, the price level is quite below the mean value which is the Moving Average (MA) of all values, which is standing at $659. The volatility is decreasing at a slow pace, which is not helping the conditions much.

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

Other major indicators which are very important in determining market trends are the Bollinger bands, whose upper band is standing at $726 and the lower band at $550.49. The Relative Strength Index (RSI) score is at an average value i.e. 54.22, as the past week has experienced bullish retraces as well.

Bitcoin cash price analysis: Cryptocurrency faces bullish upturn after a consistent bearish strike

The 4-hours Bitcoin cash price analysis is showing a significant increase in price after the bears had taken the price down significantly. The bullish momentum has been considerable, and the coin value has improved to $639.

This is a great start from the bullish side, and it is expected that the price will cross the moving average value at $649 as well. The volatility is increasing which means that the dominating trend will slowly intensify in the future.

Bitcoin cash price analysis: Bulls conquer $640 resistsnce to march ahead 2
BCH/USD 4-hours price chart. Source: TradingView

The 4-hours BCH/USD chart is showing us the Bollinger band indicator as well, and its upper value is currently set at $700 and its lower value is set at $628. The RSI score, on the other hand, has also increased to 40.51 as its curve is now moving towards the upward direction.

Bitcoin cash price analysis: Bulls conquer $640 resistsnce to march ahead 3
BCH/USD technical indicators chart. Source: TradingView

As the bitcoin cash price analysis has confirmed, the trends have been bullish for the day, so is the technical indicators chart showing a bullish sign. There are a total of 10 indicators that are present at the buying position, 10 at the neutral, and the remaining six indicators are at the selling position.

The moving averages are also indicating a bullish signal, according to which 10 indicators are on the buying side, four on the selling while only one is on the neutral side. The drop in the price has been huge in the previous week, so the oscillators are going bearish, with nine indicators at a neutral spot, two at selling while none is at the buying spot.

Bitcoin cash price analysis conclusion

The given 1-day and 4-hours Bitcoin cash price analyses are giving a positive signal for the buyers. It is the most suitable time for them to purchase more assets, as the price is much likely to go beyond $638.

The momentum is expected to grow further, which will be encouraging after a long bearish tide. The support at $628 is to be maintained if cryptocurrency is up to securing a higher value than currently available.

Disclaimer. The information provided is not trading advice. 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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