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Bitcoin Cash Technical Analysis: BCH Hovers Around $500

1 Min Read
Last Updated March 29th 2021

Daily Bitcoin Cash BCH Price Analysis

  • Bitcoin Cash price trends in the lower half of the Bollinger Band in the daily chart.
  • BCH Faces major resistance at the 20-day SMA

From March 14 to March 24, the Bitcoin Cash price dropped from $595 to $475. Following that, the buyers used that support wall to bounce up and aim for the 20-day SMA once again. However, as things stand, BCH is trending horizontally below this level.

 

Bitcoin Cash Price Trends In Narrow Channel

The Bollinger band in the daily Bitcoin Cash price chart has narrowed considerably and is presently trending in a channel formation. This tells us that the price volatility is going to be very low for the foreseeable future.

BCH/USD daily chart 032921

Image: BCH/USD daily

As per the IOMAP, the strongest resistance barrier is at the 20-day SMA ($515). Previously, 87,000 addresses had purchased 953,000 BCH tokens here.

BCH/USD volume chart 032921

Image: IntoTheBlock

 

Bitcoin Cash Price Is Expected To Reach these Levels

Bitcoin Cash price will probably keep trending horizontally around $500.

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