Price Analysis

Bitcoin Cash Takes a Subtle Downturn From $310 and Trades Around $287

  • Bitcoin Cash breaches the newest high at $310 and currently trades at $287.48
  • Within the past 12 days, BCH had a trading price range of $269–$310
  • Along with the price, the market cap of BCH also had a notable downturn, when it slid below $310

Bitcoin Cash (BCH), unlike Bitcoin, is showing range-bound fluctuations through its recent momentum and price trend. Although, BCH is ranked on the 4th position in the global crypto market with moderate volatility flowing throughout. Bitcoin Cash trades in the ‘buy phase’ when all the major cryptos are falling apart in the ‘selling zone.’ This shows the grounded support from the short-term moving averages viz., 5-day MA and 10-day EMA.

Bitcoin Cash Price Analysis

Bitcoin Cash
Bitcoin Cash Price Chart by TradingView

Analyzing the hourly movement of BCH coin on Bitstamp, we see that the coin started the month with a down-trending momentum. It was trading as low as $269.37, I.e. bottoming at the least digit of the price range on the very first day of the month. Later, it exhibited a growing trend and a slight narrowing of the Bollinger Bands, which led to the green candle break the upper band, to let the coin trade at $304 once and then at $309. However, after November 7, 2019, we rightly see the candles falling apart and having a double bottom at $269 on November 8. With a notable growth of over 6%, Bitcoin Cash price is currently trading at $287.48. The recent price trend seems to have the narrowing of Bollinger Bands, which shows that there is no volatility expected in the upcoming days.

Technical Indicators:

The MACD of BCH/USD is inclined to zero and running with a bearish crossover.

The RSI of the coin is at 48.83 and shows no extremities at present.

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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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