• On the upside, if the bulls break above the EMAs, the crypto’s price will rise to retest the $480 resistance level.
• The 0.50 Fib. retracement was well supported as the bulls make an upward move to break above the EMAs.

BCH /USD Medium-term Trend: Bullish

• Resistance Levels: $480, $500, $520
• Support Levels: $460, $440, $420

Yesterday, June 27, the price of BCH was in a bearish trend. Yesterday, the crypto was in a downward correction after the resistance at the $480 price level. The downward correction ended yesterday at a price of $411. However, the support level at $400 was holding as the bulls make an upward move to reach the previous highs.

On the upside, if the bulls break above the EMAs, the crypto’s price will rise to retest the $480 resistance level. From the Fibonacci tool, the crypto’s price fell in the 0.50 Fib.retracement level. The 0.50 Fib. retracement was well supported as the bulls make an upward move to break above the EMAs. Nevertheless, the BCH market is in the overbought region of the daily stochastic but below 60% range. This indicates that price is in a bearish momentum and sell 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 trending southward indicating that price is falling. On June 26, the bulls tested the $500 price level but were resisted. The bears broke below the EMAs to reach the low at $ 400 price level

The support at $400 was  holding as the bulls made an upward move above the EMAs.
Meanwhile, the BCH market is in the overbought region of the daily stochastic but above the 80% range. This indicates that price is in a bullish momentum and buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.