BCH/USD Market Holds Lower Lows – Feb 23
The BCH/USD market operation remains, showing lower lows. And they are not far from resulting in a recessionary business condition. The cryptoeconomic valuation initially rose to a high of $305 and a low of $289 during today’s sessions, with a negative percentage of 0.12.
Market remains, showing lower lows: BCH market
Resistance Levels: $350, $400, $450
Support Levels: $250, $200, $150
BCH/USD – Daily Chart
The daily BCH/USD trading chart reveals that the crypto market remains, showing lower lows on the south side within the drawn channel downtrend lines. The 14-day SMA indicator is above the 50-day SMA indicator. Stochastic oscillators are in the oversold region, pointing north to indicate the possibility of getting some highs soon.
Could there be high volatility in BCH/USD as the cryptocurrency market remains, showing lower lows?
Volatility can occur at any time on any pairing trading instrument. But as far as BCH/USD trading operations are concerned, less active moves are expected to emerge as the crypto-economic market remains, showing lower lows in some sessions. That said, the points between $300 and $200 should be the areas where the price should build on the supports to advance better.
On the downside of technical analysis, the 14-day SMA should serve as the instrument showing signs of lagging against getting soft upside moments. A breakout around the trendline of the indicator will lead the market to face another round of resistance trading situations around a higher value line of $400. In the meantime, if the crypto economy results in a move mode of consolidation, the lowest support level at $200 will act as the critical baseline against subsequent downsizing processes. And this time, the short sale of more positions can be harmed in a short time.
BCH/BTC price analysis
By comparison, Bitcoin Cash is still relatively bullish under a downward force juxtaposed to Bitcoin. The cryptocurrency pair market remains, showing lower lows below the SMAs trendline. The 50-day SMA indicator is above the 14-day SMA indicator. Stochastic oscillators are below the 80 range, sloping slightly south to signify that downward pressure is imminent on the market pair. This means that the main counter cryptocurrency may soon prevail over the base cryptocurrency.
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