• On July 14, the downtrend was corrected at the price of $280.
• The crypto’s price is now ranging above the $280 price level but below the EMAs.

BCH /USD Medium-term Trend: Ranging

• Resistance Levels: $480, $500, $520
• Support Levels: $300, $290, $280

Last week the price of Bitcoin Cash was in a range bound move below the 12-day EMA and the 26-day EMA. The BCH had been on a downward correction. On June 27, the bulls were resisted at the $480 price level. The first downward correction was below the EMAs but above the $400 price level where the coin was range bound.

The coin continues its range-bound move below the EMAs and above the $400 price level until they were resisted on July 10. On July 14, the downtrend was corrected at the price of $280.The crypto’s price is now ranging above the $280 price level but below the EMAs. Meanwhile, the BCH market is in the oversold region of the daily stochastic but above the 20% range. This indicates that price is in a bullish momentum and buy signal.

BCH/USD Short-term Trend: Bearish

On the 1-hour chart, the price of BCH is in a bearish trend. The 12-day EMA and the 26-day EMA are sloping southwardly indicating that price is falling. From the high of $340 price level the coin fell to the low of $300 support level and commenced a bullish move above the EMAs. Meanwhile, the BCH market is in the oversold region of the daily stochastic but above the 20% range. This indicates that price is in a bullish momentum and buy signal.

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