BCH/USD Price Lowers in Ranges – December 15
The BCH/USD business operation financial book witnesses that the crypto market price moves down close to $400. The market’s percentage rate is estimated at 0.06 as a move indicates an ongoing northward swing to achieve $437.
Price Lowers in Ranges: BCH Market
Resistance levels: $500, $600, $700
Support levels: $400, $350, $300
BCH/USD – Daily Chart
The BCH/USD daily trading chart showcases that the crypto-economic price moves down close to $400. The candlesticks are featured close to the path of the lower bearish trend line. The upper bearish channel trend line drew alongside the smaller SMA. The 50-day SMA indicator is above the 14-day SMA indicator. The Stochastic Oscillators are seemingly continuing to consolidate northbound from the oversold region close beneath the range of 40. It means that the market is on the threshold of striving to push northward.
Can traders start to buckle up for placing long positioning orders as the BCH/USD price moves down close to $400?
Some degrees of cautiousness still need to exercise as the BCH/USD price moves down close to $400. At this point, traders, especially, long-position takers would have to buckle up by being on alert as to when there will be a visible rebound from a lower spot around the value line before exerting a buy order. There may still be a re-occurrence of smaller-downs to allow the price to get a re-positioning outlook back to the upside.
On the downside, contrary to the upside technical analysis, there are tendencies that the market will encounter a tough-trading situation around $500. Most especially in the process of the market operations pushing slowly and steadily, the price may get resisted before reaching the resistance value line. The support level at $400 may also not be broken southward for sustainability afterward.
BCH/BTC Price Analysis
In comparison, the trending ability of Bitcoin Cash as paired with Bitcoin, yet goes depressive, letting the counter trading instrument control the trend furthermore. The cryptocurrency pair price moves down underneath the trend lines of the SMAs. The 50-day SMA indicator is above the 14-day SMA indicator. The Stochastic Oscillators have crossed the lines southbound close to the range of zero. That gives birth to an indication that the base crypto has pushed downward to another round of critical lower-based trading zone. Therefore, the counter crypto may soon relax to allow the base crypto to swing up based on the technical point of viewing.
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