BCH P0ises for downing– May 22
The depression weight on the BCH/USD market operations appears not getting a reduction by now as it closely noticed that the crypto-economic price poises for downing at a lower-trading spot. Price is trading around the $192 value line at a minimally minute percentage rate of 0.06 negative.
BCH Price Statistics:
BCH price now – $194.34
BCH market cap – $3.7 billion
BCH circulating supply – 19.1 million
BCH total supply – 19.1 million
Coinmarketcap ranking – #24
BCH Poises for Downing: BCH Market
Resistance levels: $240, $290, $340
Support levels: $150, $130, $110
BCH/USD – Daily Chart
The daily chart showcases BCH trade operation poises for downing as it features some lower lows over time underneath the trend line of the smaller SMA. The 14-day SMA trend line is underneath the 50-day SMA trend line. The Stochastic Oscillators are making efforts to move into the overbought region to suggest some upward momentum gathering has almost exhausted.
Will the BCH/USD market bears regain control around the $240 resistance?
The BCH/USD market bears are likely to regain control around the $240 resistance by taking the positioning of the 14-day SMA indicator into consideration on the chart as the crypto economy poises for downing. A bullish candlestick emerging from the current lower lows may let the market touch a point of resistance trading line to let there be a downing motion that can lead to breaching past the level of lower lows purposely to find another support.
On the downside of the technical analysis, the BCH/USD market short-position takers needed to wait for a loss of momentum signaled by an active force around the trend line of the 14-day SMA indicator before considering a selling order. In the meantime, investors may reconsider buying back into the crypto economy as it goes dipping and keeps for a long-term basis to run back to the moon afterward.
BCH/BTC Price Analysis
In comparison, Bitcoin Cash is pushing to reach variant-lower lows in the deep-shallow trading zone beneath the indicators. Currently, the cryptocurrency pair price poises for downing more underneath the trading indicators if a consolidation movement has to occur in no time. The Stochastic oscillators are seemingly moving in a consolidation manner within the range lines of 40 and 20. That shows the base crypto may not have the strength to push against the flagship countering crypto in the near time.
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