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Bitcoin Cash price analysis: Can bulls defend $640 support?

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  • Bitcoin Cash price analysis suggests upwards movement to $700
  • The closest support level lies at $640
  • BCH faces resistance at the $680 mark.

The Bitcoin Cash price analysis shows that after failing to climb above the $720.00 mark, the sellers broke the $680.00 support level as BCH returned to the $640.00 mark. Since then,the price has recovered to the $660 mark as the buyers defended the support level.  

The broader cryptocurrency market has observed a bullish market sentiment over the last 24-hours as most major cryptocurrencies record positive price movements. Major players include AVAX and DOGE recording a 9.38 and a 7.75 percent incline, respectively. 

Bitcoin Cash price analysis: BCH recovers 660, what’s next?

Bitcoin Cash price analysis: Can bulls defend $640 support? 1
Technical indicators for BCH/USDT by Tradingview

Across the technical indicators, the MACD is currently showing bearish momentum, as exhibited by the red histogram. The indicator currently shows a decreasing bearish momentum as expressed by the lighter shade of the histogram. The MACD exhibited a bearish crossover on November 10 and has remained in the region since then as the Bitcoin Cash price fell from the $720.00 level. 

The EMAs are currently stabilizing above the mean as the price action finds support at the $660.00 mark. The 12-EMA is moving upwards as the price tries to climb towards the $680.00 mark. Meanwhile, the 26-EMA continues moving downwards as the 26-day moving averages still show a bearish momentum. 

The RSI is currently neutral and trades close to the mean level at the 49.85 index mark. The indicator is currently moving along the x-axis as BCH oscillates below the $680.00 mark. The neutral position leaves room for volatile activity in either direction but the horizontal indicator shows that speculation runs high across the short-term charts.

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The Bollinger Bands are currently wide but show convergence as the price action slows around the $45.00 mark. As the price action consolidates around the indicator’s mean line, traders can expect the indicator to converge in the centre showing a further decline in BCH price volatility as speculation runs high. 

Technical analysis for BCH/USDT

Overall, the 4-hour Bitcoin Cash price analysis issues a sell signal as 11 of the 26 major technical indicators support the bears across the timeframe. On the other hand, only five of the indicators support the bulls showing significant buying activity in the markets. Meanwhile, the remaining ten indicators sit on the fence and do not issue any signals at press time. 

The 24-hour Bitcoin Cash price analysis contradicts this sentiment and issues a buy signal with 15 of the indicators supporting the buyers against only one indicator suggesting a downwards movement. The analysis shows strong bullish dominance across the mid-term charts. At the same time, ten of the indicators do not support either side of the market and stay neutral. 

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What to expect from the Bitcoin Cash price analysis?

Bitcoin Cash price analysis: Can bulls defend $640 support? 2
4-hour price chart by Tradingview

The Bitcoin Cash price analysis shows that the bulls struggled and failed in climbing above the $720 price level, causing the support at $680 to collapse. After setting up multiple lower highs, the price had fallen to the $650.50 mark but has since recovered above the $660 mark. 

Currently, traders should expect the buyers to defend the $650.00 mark as the price returns to the $675 mark. The suggestion is supported by the mid-term technical analysis that leans towards the bulls while the short-term indicators show low momentum on either side as the bulls struggle for market dominance.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Bitcoin Cash

Bitcoin Cash Token Rebounding Back, From Demand Zone.

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  • Bitcoin cash token over the monthly chart is trying to rebound, after testing the support or demand zone at the lower side. 
  • The crypto asset is currently trading below its all vital moving averages of 20, 50, 100 and 200-day lines, with average volume activity. 
  • The pair of BCH/BTC is trading at 0.01042 BTC with an intraday dip of +0.46%, and the ratio of BTC/ETH is CMP at 0.1377 ETH with a 24-hour change of +0.79%.  
Chart of BCH/USD by Tradingview

Bitcoin cash token at the monthly chart has been trading near the short term support zone, since the past few trading sessions. Moreover, the volume activity is average and needs to grow strongly for a strong reversal from lower levels. BCH is currently trading below all vital moving averages, with no sign of strong reversal at the current situation. Now, the crypto asset falls below all critical lines of moving averages of 20, 50, 100, and 200-day lines. Since the crypto asset is trying to bounce back from the support zone and the sustainability above the support line can boost more buyers. Support on the lower side is $520 and $490, whereas resistance on the higher side is $620 and $690.

Bitcoin cash token at the weekly chart is trying to rebound

Chart of BCH/USD by Tradingview

Bitcoin cash token at the weekly chart is trying to rebound, after a sharp decline from the higher levels. Meanwhile, the technical parameters are heading higher after a sharp decline from higher levels. Slightly the volume activity is also increases and trying to jump above the average line. The digital asset witnesses slight buying action from the lower levels and is recovering from the oversold zone. BCH’s price is trading at $567 with an intraday gain of -6.16%, and the volume to market cap ratio is 0.1478.  

Relative Strength Index (BULLISH): Bitcoin cash token RSI is heading higher after recovery from lower levels. In contrast, the coin is trading near the lower area and can project a slight recovery with upcoming buying action, RSI at 43. 

Moving Average Convergence Divergence (BEARISH): The daily chart projects a bearish trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) is under pressure below the seller’s line (red) with a negative crossover. 

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Bitcoin Cash (BCH/USD) forecast and analysis on November 26, 2021

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Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 612. 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 bars.

Bitcoin Cash (BCH/USD) forecast and analysis on November 26, 2021

As part of the Bitcoin Cash forecast, a test of the level of 590 is expected. Where can we expect an attempt to continue the growth of BCH/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 650. The conservative buying area for Bitcoin Cash is located near the lower border of the Bollinger Bands indicator bars at 540.

Bitcoin Cash (BCH/USD) forecast and analysis on November 26, 2021

Cancellation of the option to continue the growth of the Bitcoin Cash rate will be a breakdown of the area of ​​the lower border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and closing of quotations of the pair below the 530 area. This will indicate a change in the current trend in favor of the bearish for BCH/USD. In the event of a breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of the cryptocurrency.

Bitcoin Cash (BCH/USD) forecast and analysis on November 26, 2021 implies a test level of 590. Further, growth is expected to continue to the area above the level of 650. The conservative buy area is near the area of ​​540. Cancellation of the cryptocurrency growth option will be the breakdown of the level of 530. In this case, we should expect continuation of the fall.

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Bitcoin Cash Price Analysis: strong resistance at $713

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  • Market volatility high.
  • Strongest resistance at $713
  • Strongest support at $549

The Bitcoin Cash Price Analysis has shown a significant decline on 22 November 2021, followed by a flash-crash the same day the price went as low as $550. On 23 November 2021, the price started to increase, showing a head and shoulder movement. Due to high volatility, the fluctuations in the prices are rather significant and unpredictable to some extent.

Bitcoin Cash Price analysis chart 4-hour: steady increase in volatility

The Bitcoin Cash Price analysis chart shows that the volatility of the market has currently steadily increased. Though the increasing process might be slow nonetheless, it will have an impact on the whole market. Since the volatility increase is not significant, the investments’ prices will undoubtedly be affected. The moving average curve crosses over the BCH/USD price; this implies that the trend being followed is bullish. With the volatility increasing and the movement being bullish, the investment pieces are expected to rise.

Bitcoin Cash Price Analysis: strong resistance at $713 1
BCH/USD 4-hour chart source: Trading view

The Bitcoin Cash Price Analysis shows the upper limit of the Bollinger’s band at $590 being the resistance and the lower limit at $549 being the support. The Relative Strength Index (RSI) is at 41; it is slightly undervalued, but not entirely; it’s almost in the middle showing no signal and is not being oversold. The buyers will have to up their game if they want to capture the market.

BCH/USD 1-day price analysis chart: highly variable market

By examining the Bitcoin Cash Price analysis chart, we have come to know that the market is outstandingly volatile, which means that the prices of the investments will significantly be prone to change. The moving average is crossing over the BCH/USD price, so the trend is bullish in the market. The market is volatile, and the bullish trend implies that the price will increase somewhat, though this much volatility hinders the accuracy of predictions.

Bitcoin Cash Price Analysis: strong resistance at $713 2
BCH/USD 1-day chart price source: Trading view

The Bitcoin Cash Price Analysis shows that the Bollinger’s bands’ upper limit is at $713, also known as resistance, and the lower limit of the Bollinger’s band, also known as support, rests at $522. The gap between the lower and upper limits is enormous, which implies that the prices of the assets will change at a random and significant scale. The Relative Strength Index (RSI) is at 40, slightly undervalued and not oversold. The market is bullish, and the assets are undervalued; the value of investments will likely escalate.

Bitcoin Cash Price Analysis: conclusion

The Bitcoin Cash Price Analysis concludes that we have observed the current behavior of BCH, which is following a relatively bullish trend. The chart analysis shows that with the steady bullish momentum, it is predicted that the cryptocurrencys’ value will son increase, but if the current support fluctuates, we may see a decline in the prices as far as $540.

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