BCH price has fallen to $662 Bitcoin Cash price analysis favors bears. Support is firm at $538.21. Since the price has been falling steadily, the bears have been dominating the BCH/USD chart price chart for the last few days. Even today, the price fell significantly as the bearish trend brought its extreme to $661.77. The bearish trend has been growing at a constant pace, which has increased the chances that the price will fall into the danger zone.
PCH Price
The BCH price is on a downward trend to $662. The one-day Bitcoin Cash price analysis shows a downtrend for today, as the bears have been leading for the past few weeks. The trend shifted unexpectedly, leading to a bearish win. The current BCH value is $661.77 and it is possible that it will drop further in the coming weeks. The Bollinger bands average is $614.72, while the moving average (MA), value is $638.
The volatility has increased, which indicates that the bearish trend may intensify in future. The Bollinger band values have also changed. The upper Bollinger value is now at $691.22 and the lower Bollinger value is now at $538.21. The Relative Strength Index score (RSI) has been reduced from 57.25 to 57.25.
Analysis
Analysis of Bitcoin Cash prices: Bullish comeback boosts BCH price to $662. In the last four hours, BCH/USD has seen a price increase. The bearish streak has been broken by the bulls and they have made a successful comeback. The buyers are encouraged by the fact that the price has risen to $661.77. The bearish pressure had caused the price to drop steadily. The moving average value is $671.35 as shown in the four hour price chart.
Bollinger bands indicator currently maintains an average of $684.72. Its upper band is located at $723.33, while its lower band is at $646.10 Position. The RSI score has been increasing and its curve is now at 48.93.
The technical indicators chart of BCH/USD is a bullish signal as the price has increased in the last few months. There are 14 indicators in the buying position, nine are in neutral and three are in selling.
Conclusion
The strong bullish signal from the moving averages indicator indicates a remarkable price increase. 13 indicators are at the buying mark while one indicator is at the selling and neutral marks. The Oscillators show a neutral trend for today, with eight indicators in neutral position, two at selling position and one at buying position.
The Bitcoin Cash price analysis for the past one and four hours predicts a drop in value for the day. The bearish trend has led to a drop in the coin’s value to $662. Further declines are expected. The four hour price chart shows a green candlestick which indicates that the upcoming hours may be favorable.