- Bitcoin cash coin is placed near its major support zone of vital moving averages and trading near its psychological mark of $600 level.
- The crypto asset at the monthly chart is struggling near its vital moving averages of 20, 50, 100 and 200-day line while trying to sustain above them.
- The pair of BCH/BTC is trading on a slight negative at 0.0129 BTC with an intraday loss of -2.21%, and the ratio of BCH/ETH is CMP at 0.1952 ETH with an intraday drop of -2.67%.
Bitcoin cash coin at the monthly chart is trading near its vital moving averages after a minor pullback from higher levels. The coin witnessed a good recovery from the lower levels and now faces some selloff at the higher levels.
The 14th largest crypto asset is currently trading near the support of major moving averages of 50, 100 and 200-day lines. If BCH fails to sustain above 20-day SMA and volume activity is also lower. We can see a good rebound if BCH starts to sustain above its major DMA of 20, 50, 100 and 200-day lines with supportive volume action. Whereas levels of $600 are acting as psychological support, and if the coin manages to sustain above a crucial support zone, then a good rebound can be seen. Support on the lower side is $580 and $490, whereas resistance on the higher side is $720 and $810.
Bitcoin cash coin is now trading near the oversold zone
At the weekly time frame, the Bitcoin cash coin is now trading near the oversold zone. We can expect a bounceback from current levels as the coin is placed near a major support area. Presently, the BCH coin is trading at $605 with an intraday loss of -3.42%, and the volume to market cap ratio is at 0.283.
Relative Strength Index (OVERSOLD): Bitcoin cash coin RSI presently indicates an upcoming bullish momentum over the weekly chart. The RSI is trading near the oversold zone, while soon we can see a good rebound now CMP at 34.
Moving Average Convergence Divergence (NEUTRAL): The daily chart indicates an upcoming positive trend at the 4-hour time frame. After a bearish rally, the buyer’s signal line (blue) is heading towards the seller’s line (orange).
Support levels: $580 and $490
Resistance levels: $720 and $810.