The market cap of the collective cryptocurrency market was stable at $135 billion, riding high from an early-week low of $131 billion.
At press time, the coin had gained marginally against the US dollar by 1.29 percent, and was trading at $133.10. The price of Bitcoin Cash [BCH] had petered out after spiking to $135.71, following which the price began to peter out. Bitcoin Cash posted a market cap of $2.36 billion, with a surging Binance Coin [BNB] behind by just $220 million.
LBank dominates the BCH market, accounting for 13.05 percent of the global BCH volume via the trading pair BCH/BTC. Other exchanges which posted high Bitcoin Cash trading volumes were P2PB2B, HitBTC, and BiteBTC.
The mid-week uptrend pushed the price from $128.37 to $133.46, and was followed by a market correction which pulled the price from $133.57 to $129.25. Following this roller coaster-like movement, the coin was stable around the $132 mark.
Bitcoin Cash showed an immediate resistance level of 133.46, which the coin touched earlier this week. The immediate support level of the coin stood at $127.15.
The Bollinger Bands showed a massive increase in volatility as the coin’s price shot up, before dropping down within a two-day window. The Moving Average line showed a bullish market.
The Chaikin Money Flow tool pointed to an increase in the money inflow into BCH tokens, as the CMF line was above 0.
The Awesome Oscillator indicated a rise in short term momentum. However, since the concluding bars were red, a bearish phase for the coin was expected.
Barring one solitary long-term uptrend in February which raised the price from $128.03 to $152.76, the coin was stuck between two downtrends. Prior to the uptrend, the coin’s price dropped from $196.72 to $119.01, following which the coin’s price fell from $150.85 to $130.02.
The coin’s immediate support stood at $118.42, while the immediate resistance for the coin was found at $153.
The Parabolic SAR indicated a bearish market.
The MACD showed a mildly bearish market as the Signal Line was just above the MACD line.
The Relative Strength Index pointed to a drop in the coin’s investor interest as the RSI had dropped from 69.21 to 52.81, since February.
Bitcoin Cash was buoyed by mid-week bulls and managed to sustain its high, with the coin pushing above the $130 mark. In the short-term, the coin was trading on a high as the CMF line pointed to an increase in money inflow and short term momentum looked to rise. In the long-term however, the coin was struggling to get free from the bears’ grasp.
Bitcoin Cash Follows the Market Trend, Slips by 4% Overnight
- Bitcoin Cash goes flat off by 4.03% and touches 309 USD.
- The next support might be waiting at 304 USD.
Taking a major cur from all the front runner coins, Bitcoin Cash (BCH) has also experienced tough times in the last one day with a 4.03% fall. The value of BCH has now fallen to 309 USD and the price movement of the past 24 hours is divided into three price swings.
BCH to USD Price Analysis:
The first swing of Bitcoin Cash happened between 00:02 and 14:00 UTC and this swing added 13.85 USD to each coin and placed it at 332 USD, the highest point for the day. Later it took a dive to 305 USD, the lowest point of the day. This 8.26% fall had a break at 321 USD. Later it showed some signs of strength and it could lift its value by 1.49% to touch 309 USD.
Bitcoin Cash Price Prediction:
Bitcoin Cash has time and again shown resilience in the market and proved its worth. The latest fall is due to an overall grim condition in the crypto market. However, the same situation may continue for some more days and the next support may come at 304 USD.
|Bitcoin Cash (BCH)||Resistance and Support Levels|
|1st Resistance||$ 331.94|
|2nd Resistance||$ 339.16|
|3rd Resistance||$ 345.44|
|1st Support Level||$ 318.44|
|2nd Support Level||$ 312.16|
|3rd Support Level||$ 304.94|
Bitcoin Cash (BCH/USD) forecast and analysis on September 19, 2019
Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 323. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator stripes.
Bitcoin Cash (BCH/USD) forecast and analysis on September 19, 2019
As part of the Bitcoin Cash forecast, a test of level 318 is expected. Where can we expect an attempt to continue the growth of BCH/USD and the further development of an upward trend. The purpose of this movement is the area near the level of 342. The conservative area for buying Bitcoin Cash is located near the lower border of the Bollinger Bands indicator strip at 295.
Cancellation of the option to continue the growth of the Bitcoin Cash rate will be a breakdown of the lower border of the Bollinger Bands indicator stripes. As well as the moving average with a period of 55 and closing of quotations of the pair below the area of 290. This will indicate a change in the current trend in favor of the bearish for BCH/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect acceleration of the cryptocurrency fall.
Bitcoin Cash (BCH/USD) forecast and analysis on September 19, 2019 implies a test level of 318. Further growth is expected to continue to the area above the level of 342. The conservative area for buying Bitcoin Cash is located area of 295. Cancellation of the growth option of cryptocurrency will be a breakdown of the level of 290. In this case, we should expect a further fall.
Bitcoin Cash Marked an Intraday Hike of Almost 4%
Crypto payments are making headway in various part of the world. Recently, a California city official used Bitcoin Cash for purchasing cannabis. Thus, he became the first elected official to do so. Another good news for BCH community is, now they can secure and transact the digital chip using HTC’s latest flagship smartphone Exodus 1. The tech firm decided to do so as a vast number of consumers are using BCH as a payment method.
Bitcoin Cash Price Analysis
On August 22, Bitcoin Cash was trading around $314.1. However, today after 25-days, it has shown a cumulative hike of 3.02%. Similarly, in the weekly chart, BCH coin has marked a considerable bounce-back of 8.8% from the trading price of $297.4 on September 12. Yesterday’s trading projects similar action as well. The crypto strengthened by a margin of 3.89%, after opening at $307.53. It finally wrapped the day at $319.50.
BCH to USD Price Chart
The crypto is having a bullish movement for almost a week now. And it is moving further at a steady pace. The immediate resistance for the BCH coin is at $328.85 and a support level at $308.13.
Bitcoin Cash is trading firmly above the baseline, though, there have been some fluctuations in the intraday trading. Further, the use of Bitcoin Cash as the payment method in California will draw a lot of traders toward the coin. Nowadays, a number of smartphone manufacturers are supporting crypto transactions and HTC’s move is the latest addition in the list. Meanwhile, the trends in BCH is bullish and is expected to go up further.