Bitcoin Cash Price Analysis: BCH Sandwiched Between 20-day And 50-day SMAs
Daily Bitcoin Cash BCH Price Forecast
- Bitcoin Cash price is sitting on top of the 20-day SMA.
- BCH has found robust support at the $485 line.
The Bitcoin Cash price has dropped from $593 to $520 over the last four days. Having lost almost $75 in overall valuation, let’s take a closer look with what’s happening with technical analysis.
Bitcoin Cash Price Sandwiched Between Key Levels
During the last four days, the Bitcoin Cash price has flashed two sell signals:
- Flipping the 50-day SMA from support to resistance.
- Reversing the MACD from bullish to bearish.
Image: BCH/USD daily
If the Bitcoin Cash price breaks below the 20-day SMA, it will reach the $485 line. Previously, 64,000 addresses had purchased over 1 million BCH tokens at this level.
Over the last 13 sessions, the 4-hour Bitcoin Cash price has been trending horizontally in a $10-range between $530 and $520. However, the 50-bar SMA has crossed over the 20-bar SMA to form a bearish cross pattern.
Image: BCH/USD 4-hour
Bitcoin Cash Price Is Expected To Reach These Levels
If the Bitcoin Cash price breaks below the 20-day SMA, it will drop to the $485 support.