Price Analysis

BCH Price Analysis: Bitcoin Cash Now Trading in Bullish Zone

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Bitcoin Cash, the would-be de-facto BTC is as popular as its namesake. BCH is the 5th position as per market capitalization. There seems to be a recent activity in the crypto industry related to Bitcoin cash. Rakuten, an e-commerce giant in Japan has decided to allow users to convert their loyalty points to BTC, BCH. As a result, the BCH price has surged around 7.5% in the last 24 hours, while 9.8% since last week.

BCH Price Analysis

BCH Price Analysis:

Bitcoin Cash is trading 7% higher against USD with $206.31 USD. While BCH price is up by 6% trading at 0.02818568 BTC. The market cap has increased to $3,752,987,530 USD while the 24hr trading volume rose to $2,216,211,826 USD. Moreover, in the late hours of Dec 27, 2019; the Bitcoin cash price surged drastically from $193 to $202 in minutes and it reached $209 USD.

BCH Price Analysis

The Bitcoin Cash price is gaining a bullish trend from chart shows. However, it has yet to overcome the last month’s drop from $207 to $176 on Dec 16. 

Bitcoin Cash Technical Analysis: 

Bitcoin Cash Technical

Bitcoin Cash is gaining price as per the technical analysis. BCH/USD bulls are making a late push in the session on Friday, after starting on the back foot. The price has been falling consecutively for going on eight weeks, with no sign of a change. However, the last 24hrs have brought a wave relief for BCH traders.

  • RSI Indicator – The 4hr RSI trading chart shows the BCH price above level 70. It shows a continue in the bullish trend. 
  • MACD Indicator – The 4hr MACD indicator shows BCH price in the green trading zone. This too depicts a bullish surge in the future.

What do you think of BCH price analysis? Will it hold onto a $200 support level or fall below the level? Let us know your views on Facebook and Twitter pages. 

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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