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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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