Price Analysis

Bitcoin Cash Marks an Impressive Intraday Hike; Trades Above $240

  • Bitcoin Cash shows an amazing trend reversal as the price rises above the yearly bottom of $143.2 and currently trades at $241.7, marking an intraday hike of 68.78%
  • The market seems to reverse the weekly sluggish pullback as market ramps up
  • BCH coin had lost over 70% when it nosedived from the 90-day high of $498.8 to the yearly bottom marked at $143.2
  • The intraday gain has not yet regained support from the daily moving averages. BCH/USD price trend marks consistent higher lows on the 8-hourly chart
  • The MACD of the coin withholds a bullish crossover with RSI lingering around the overbought region

Bitcoin Cash shows an amazing intraday hike as it rises from yesterday’s low of $178 to currently trading above $200. The steep hike above $200 took the coin to have a bullish intraday closing yesterday.

Bitcoin Cash Price Analysis

Bitcoin Cash News
BCH/USD Chart By TradingView

Analyzing the Bitcoin Cash price trend against the US Dollar, we see that the coin has been showing an impressive intraday movement after a sluggish week and month overall. Moreover, before believing this hike totally, we should also keep in mind the volatility of the market. Also, this intraday bullish crossover does not seem to suffice the losses made in the meanwhile as it fails to regain support, until the time of writing.

Bitcoin has also made an amazing recovery as it reverses the sluggish bearish momentum into a bullish intraday crossover and trades above $6,600, marking a gain of 15%. Additionally, all the top coins of the market are gaining an impressive recovery as the trading price ramps up.

Technical Indicators

The MACD of Bitcoin Cash is showing a clear bullish crossover as the price spiked above $200 and recorded a plethora of trading volume over the past 24 hours as the MACD line crosses above the signal line.

Similarly, the RSI of the BCH coin is at 62.46 and is on the verge of pulling above the overbought region at 10 and beyond if the momentum continues to spike.

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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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