Price Analysis

Bitcoin Cash Draws a Bullish Crossover Over the Past 15 Days

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Bitcoin Cash (BCH) maintains its stance to be one amongst the top 5 cryptos of the market and leaves altcoins like BNB, LINK, LTC behind with a striking positive momentum in the intraday. After a steep pullback in the previous month, BCH price had tested bottom at $203, which is close to hitting the major support at $200. However, with a lack of steady momentum against the greenback, the coin pulled back from the 5-month high that it had hit in August 2020.

Irrespective of the price dynamics, the BCH coin has been drawing a controversial crossover with a bullish intraday but lacking momentum to hit the YTD high that it claimed at the onset of the year. However, the short-term is positive as the coin has drawn from the low of $216, marked in the last week of the previous month, to currently trading at $238.

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Bitcoin Cash Price Analysis

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BCH/USD Chart By TradingView

At the press time, Bitcoin Cash price was seen trading at $238.91 with a positive sentiment drawn after crossing above $220, $230, and $235. With a bullish crossover over the past two weeks, the price trend of BCH/USD is seen breaching the upper BB, and with the recent strengthening, the coin is retaining support from SMA50 & SMA200 on a 4-hourly chart.

The price pullback over the past two months has been a real concern, and as per the current formation of Bollinger Bands, it is likely to experience a bullish breakout soon. The MACD of BCH draws a bullish divergence and confirms the intraday positive crossover over the past two weeks. The RSI is also seen inclined towards the overbought region and lies at 70.16.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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