Bitcoin Cash Price Analysis: BCH Sandwiched Between 20-day And 50-day SMAs

Last Updated July 23rd 2021
1 Min Read

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:

  1. Flipping the 50-day SMA from support to resistance.
  2. Reversing the MACD from bullish to bearish.

bch/usd daily chart 031821

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.

bch/usd volume chart 031821

Image: IntoTheBlock

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.

bch/usd 4-hour chart 031821

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.

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