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BCH crypto price is currently close to $490, with a daily decrease of 0.12%

  • Bitcoin Cash price is currently observing a start of decrease on the daily chart. It may push the price to a low of $400
  • Technical indicators for BCH crypto price suggests a downtrend for the upcoming days. Meanwhile, BCH/BTC pair has seen a loss of 1.5% in the past 24 hours.

BCH crypto price  is currently close to $490, with a daily decrease of 0.12%. The correlation between Bitcoin Cash and Bitcoin has been on a decline from the past few weeks. It suggests that the BCH price may hit a new low as BTC consolidates.  Resistance for the Bitcoin cash on the upside can be seen near $600. The support for the BCH can be seen near the value of $400. BCH/BTC pair bull run has also been affected on this bull run. It also might break below the support region.

The price of the coin is currently below the 50 and 100 Daily Moving Average, with a negative crossover in the previous trading session. The 100 DMA (Yellow) line is at $662, making it a temporary resistance for the coin. BCH downtrend rally can soon come to a halt. One can position their funds in the Bitcoin cash as per there risk.

BCH has a coin market capitalization of $10,378,127,588.07 and has a market dominance of 0.67% . The volume of the coin has also been hit by the downtrend rally.The volume to market capitalization ratio of the BCH suggests a downtrend for the price.

Technical Indicator Suggests A Downtrend In BCH Crypto Price

Bitcoin cash price suggests a consolidated momentum i for upcoming weeks. On the daily chart the price is showing signs for a downtrend. If the price of the asset goes 15% above the current, then a strong uptrend can be forecasted. BCH/BTC pair can also observe an upside momentum despite the fall.

The volume indicator for BCH is near 76K, with a hint of selling pressure. If the price goes above $600, then buying rush in BCH could be seen.

Conclusion

BCH crypto price is currently in a slump but can soon hit the new high in upcoming weeks. BCH/BTC pair might also hit the new high in the near future . Investors should do their due diligence before investing.

Technical Levels

Major Resistance:$600

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