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Bitcoin Cash Coin Bulls Struggling to Suppress Its Vital DMA Lines.
Bitcoin cash coin trying to rebound from the lower levels after a deep sell-off, and volume activity is slightly lower.
The crypto asset at the monthly chart is trading below its vital moving averages of 20, 50, 100, and 200-day lines and attempting to suppress it.
The pair of BCH/BTC is trading at 0.009619 BTC with a minor intraday gain of +0.56%, and the ratio of BCH/ETH is CMP at 0.1358 ETH with a 24-hour change of +0.68%
Bitcoin cash coin at the monthly chart is trying to jump above its all vital moving averages of 20, 50, 100, and 200-day lines. Meanwhile, the volume activity is average and needs to improve enormously for a breakout above its vital DMA Lines. Currently, the crypto asset is trying to overcome losses with a good recovery from the lower levels. BCH is presently attempting to jump above its $600 mark but needs volume activity to sustain above its vital DMA lines.
We can expect levels of $660 to $680 soon, once the coin maintains above all DMA lines with supportive volume activity. Support on the lower side is $520 and $460, whereas resistance on the higher side is $660 and $720.
Bitcoin cash coin at the 4-hour time frame is trying to move higher
Bitcoin cash coin at the 4-hour time frame is trying to move higher after facing a sharp decline from the higher levels. Volume at the weekly chart is average and needs to improve strength for a sustainable bullish rally. Meanwhile, the technical parameters are heading towards the bullish zone, with a positive crossover. BCH’s price is trading at $595 with an intraday gain of +1.86%, and the volume to market cap ratio is 0.1124.
Relative Strength Index (BULLISH): Bitcoin cash coin RSI is heading towards the higher or overbought zone at the weekly chart. In contrast, after testing the oversold zone, the coin moves higher and projects a slight recovery with good buying action, RSI at 53.
Moving Average Convergence Divergence (BULLISH): The daily chart projects 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) with a positive crossover.
Support levels: $520 and $460
Resistance levels: $660 and $720.
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