Bitcoin Cash (BCH) Price Analysis (February 16)
- Lately, there was a slow-increasing mote in the BCH/USD trade worth.
- As at the time of writing, the crypto’s value looks being under a falling pressure.
- Neither the bulls nor the bears of the BCH/USD market have had a stronghold of the crypto-trade.
Major distribution territories: $520, $560, $600
Major accumulation territories: $400, $360, $320
Bitcoin Cash (BCH) Price Analysis
Initially, the trade worth of the BCH/USD line had been in a slow-increasing mote until about the last trading sessions on February 14. In a weak appearing manner, on February 15, the crypto’s price begun to fall gradually against its trading SMA indicators.
The crypto’s valuation, to a degree, seems to be an under selling pressure as it is presently traded below the trading indicators.
Bitcoin Cash (BCH) Technical Indicators Reading
The 50-day SMA trend-line lies underneath the 14-day SMA indicator more pointing towards the north-east direction. The 14-day SMA has seemingly bent down towards the bigger SMA. That shows the pace at which an upward price movement has lost lately in the BCH/USD market.
The downward movement of the pair has affirmed by the Stochastic Oscillators as they are now a bit below range 40. And, presently, they attempt to close the hairs around the range region. That may eventually lead to witnessing a level of variant range price movements for a while.
The BCH/USD market operations have not been in an actual sense see a high level of up rise or being in a severe falling mode. The BCH/USD market bulls have only in the recent past succeeded in pushing the value faintly and closely around the buy signal line of the smaller SMA trading indicator. Like wisely, as at the time of writing, the bears are seemingly making a reversal formation at a $440 market territory. That suggests that the BCH/USD market may have to experience a chain of range price movements further.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.