Bitcoin Cash (BCH) Price Analysis (April 19)
- BCH/USD pair has taken to featuring different lower highs and lower lows around $240 market.
- BCH/USD bears may be finding it difficult to sustainably push lower below $160 mark in the near trading period.
- BCHUSD market activities will most likely continue to trade in a range moving outlook in the subsequent trading sessions.
Bitcoin Cash (BCH) Price Analysis
- Major distribution territories: $280, $320, $360
- Major accumulation territories: $160, $120, $80
After a major drop in BCH valuation on March 12, the pair has taken to featuring different lower highs and lower lows around $240 market territory. On April 8, the pair tested the major distribution territory at $280 but couldn’t break past it.
The last March 12 decline has set a baseline around $160 value, as the bears may be finding it difficult to sustainably push lower in the near trading period.
Bitcoin Cash (BCH) Technical Indicators Reading
The 14-day SMA trading indicator has conjoined with the 50-day SMA trend-line from below around $240 price territory. The bigger SMA trading indicator now slightly curves downward to signify that the selling pressures haven’t lost stands completely in BCHUSD market operations. The Stochastic Oscillators have initially crossed from range 20, but they have now appeared attempting to close the hairs around range 40. That could signal more possibility to witnessing a continuation in price consolidation around $240 and $200 territories in a near time.
From the viewing point of technical analysis presently, BCHUSD market activities will most likely continue to trade in a range moving outlook in the subsequent trading sessions. A downward departure of the 14-day SMA from its current conjoint spot with the 50-day SMA may result in seeing more low values below $200 in the cryptocurrency’s trading positions.
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