Supply zones: $800, $900, $1000
Demand zones: $300, $200, $100

BCH is still in the range in its medium-term outlook. The strong bullish momentum was increased pushing BCH initially to $449.9 in the supply area. The end of the trading session saw the cryptocurrency making a high of $469.80. Price is above the two EMAs a further indication of the bullish pressure.

The stochastic oscillator is in the overbought region at 81% and it signal points up. This imply upward price movement due to bullish momentum as the cryptocurrency ranges.

BCH is ranging and trading between $480.00 in the upper supply area and $415.00 in the lower demand area of the range. Traders should be patient and allow a breakout at the upper area or breakdown at the lower area before taking a position.

The cryptocurrency is in a bullish trend in its short-term outlook. The upper supply area at $448.00 00 was broken with a large engulfing candle as the bulls stage a strong comeback.

BCH was up to $469.00 in the supply area as the momentum weakens leading to further upward price rejection and minor pullback to $449.80 in the demand area.

Price is above the two EMAs and the EMAs are fanned apart which connote strength in the context of the trend and in this case the uptrend.

Price is also forming higher highs and higher lows that are characteristic of a bullish market. Hence new highs may be attained as the bulls journey up north.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

205 +