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Bitcoin Cash price analysis: BCH decline continues shedding 5.6 percent more

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  • Bitcoin Cash price analysis is bearish today.
  • Support is standing at $579.
  • Resistance is present at $598.

Bitcoin Cash price analysis shows the coin continues downside today as well after yesterday’s steep plunge. The BCH/USD gained significant value during November, but yesterday’s bears market damaged the cryptocurrency value to a great extent, and yet the downfall hasn’t stopped for BCH as it continues to fall, and today’s decline has nulled out the entire gains of November. So far, no considerable bullish support has appeared, and the next support level is present around the $579 mark.

BCH/USD 1-day price chart: BCH bulls to defend $579 support

The 24-hour Bitcoin Cash price analysis shows that a further decline in the crypto pair’s value has been observed as the price has fallen more today from $599 to $583; the coin is now trading hands at the later value. Overall the BCH/USD shows a loss of 5.6 percent in value over the last 24 hours and around 14.7 percent over the past week. The Trading volume shows an increase of 32 percent over the last 24 hours, which will decrease over the day if the trend continues, as, after yesterday’s, heavy sell of today’s trading volume is actually less. The market cap has also declined by 4.80 percent.

Bitcoin Cash price analysis: BCH decline continues shedding 5.6 percent more 1

The volatility for BCH/USD is high, with the upper Bollinger band at the $706 mark, and the lower band is at the $545 mark representing support for BCH, and the mean average of the indicator is at the $625 mark, which represents resistance for the coin.

The BCH price fell below the moving average (MA) yesterday, which is trading at $657 above the price level, and the relative strength index (RSI) has fallen drastically to index 42 in the lower half of the neutral zone, the steep curve of the RSI shows heavy selling in the market.

Bitcoin Cash price analysis: Recent developments and further technical indications

The 4-hour Bitcoin Cash price analysis interprets the crypto pair has yet not seen any support from the bullish side, as the second candlestick on the 4-hour chart is also red, indicating further loss; as can be seen on the chart, the price is on downwards trend from last 12 hours again, after a little bullish activity reported yesterday.

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Bitcoin Cash price analysis: BCH decline continues shedding 5.6 percent more 2
BCH/USD 4-hours price chart. Source: TradingView

The volatility on the 4-hor chart is high, and the price is trading near the lower limit of the volatility indicator. The lower limit of the Bollinger bands has diverged more compared to the upper limit, which indicates an alarming situation, as the price may now trade below the psychological mark of $600 for some time before rallying higher. The RSI has also stepped into the undersold zone and is trading at index 22; however, the RSI curve is not steeper, and some bullish activity may appear in the coming hours.

Bitcoin Cash price analysis conclusion

The Bitcoin Cash price analysis shows that the coin continues downside today, after going through a heavy sell-off yesterday, losing $83 in value since yesterday. The RSI on the 4-hour chart also shows a bad situation, and we expect the coin to continue downside today as well.

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Bitcoin Cash

Bitcoin Cash Forecast November 29 — December 3, 2021

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Bitcoin Cash ends the trading week at 555.24 and continues to move as part of the correction and the formation of the ”Triangle” pattern. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines downward, which indicates pressure from the coin’s sellers and a potential continuation of the fall. As part of the BCH/USD rate forecast for the next trading week, we should expect an attempt to reduce the value of a digital asset and a test of the support area near the level of 540.55. From where a rebound is expected again and an attempt to raise the Bitcoin Cash cryptocurrency with a potential target above the level of 1170.05.

Bitcoin Cash Forecast November 29 — December 3, 2021

An additional signal in favor of raising the BCH/USD quotes in the current trading week November 29 — December 3, 2021 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ”Triangle” pattern. Cancellation of the option to raise Bitcoin Cash cryptocurrency next trading week will be a fall and a breakdown of the 385.05 area. This will indicate a breakdown of the support area and a continued fall in BCH/USD quotes with a target below the level of 215.05. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 825.05, which will indicate a breakdown of the upper border of the ”Triangle” model and the beginning of its development.

Bitcoin Cash Forecast November 29 — December 3, 2021

Bitcoin Cash Forecast November 29 — December 3, 2021 implies an attempt to test the support area near 540.55. Then continued growth to the area above the level of 1170.05. An additional signal in favor of the rise in Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 385.05 area. This will indicate a continued decline in cryptocurrency with a target below 215.05.

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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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