- Bitcoin Cash price is trying to find strong bullish momentum for its recovery on the daily price chart.
- The BCH crypto recovered above 20 and 50 EMA but still below the 100 and 200 day daily moving average.
- The BCH/BTC pair is at 0.006078 BTC with an intraday gain of 1.50%.
The price of Bitcoin Cash is attempting to surge with an uptrend on the daily price chart. The token has been continuously bullish for the last three trading sessions and is now trying to maintain uptrend momentum as the bears strike to pull the token down. BCH bulls need to build up to let the token hold the current level above the rising line on the daily chart. BCH tries to hold above an upward sloping line to stay in the recovery phase. However, the bears try to remove the token and the bulls have to show up for rescue.
At $140.88, Bitcoin Cash’s market capitalization climbed 0.51% from the previous day. However, during the intraday trading session, the trading volume decreased by 29.11%. This demonstrates the effort the BCH bears are making to build up so the coin can begin to sustain its downtrend. The volume to market capitalization ratio is 0.08866.
BCH coin price is coming from an interesting trend on the daily chart. The token has dropped significantly during the rollercoaster of trading sessions over the past few months. However, this time BCH is finally trying to start its recovery phase above an upward sloping line on the daily chart. In contrast, the bears try to pull the token below the slant line to let the token plummet back to the lower levels. Meanwhile, the volume change can be seen below average and needs to grow for BCH to hold.
Will BCH rise or crash?
BCH coin price is trying to hold above the ascending line on the daily price chart. The token must remain in the recovery phase to avoid falling on the daily chart. Technical indicators suggest the BCH bulls struggle to hold above the upward sloping line.
The relative strength index presents the sideways momentum of the BCH coin. RSI is at 58 and heading towards neutrality. MACD features the sideways momentum of the BCH coin. The MACD line is on the signal line and waiting for any kind of crossover. BCH investors should wait for any direction change on the daily chart.
Conclusion
The price of Bitcoin Cash is attempting to surge with an uptrend on the daily price chart. The token has been continuously bullish for the last three trading sessions and is now trying to maintain uptrend momentum as the bears strike to pull the token down. BCH bulls need to build up to let the token hold the current level above the rising line on the daily chart. Meanwhile, the volume change can be seen below average and needs to grow for BCH to hold. Technical indicators suggest the BCH bulls struggle to hold above the upward sloping line. BCH investors should wait for any direction change on the daily chart.
Technical levels
Support level: $130.00 and $115.00
Resistance level: $150.00 and $165.00
Disclaimer
The views and opinions expressed by the author, or anyone named in this article, are for informational purposes only, and they do not constitute financial, investment or other advice. Investing in or trading crypto assets involves the risk of financial loss.
