BCHUSD - 1D Chart Analysis
After 2 consecutive days of growth in which it has tested twice the Support Level of 419$, the price has bounced back, following the sideways movement that started after the drop on the 11th of October.
Even if the trading volumes are still very low, Bitcoin Cash remains one of the most volatile assets from the major cryptocurrencies, with a daily moving average of 4.47%, compared with 1.46% as much as Bitcoin has.
At this stage, the RSI and the Stochastic are indicating a slight retrace of the price but if the volumes will remain low, the trend will stay bearish and it seems it's just a matter of time until the price will test again the level of 419$, scenario which is confirmed by the MACD as well.
Even if the trading volumes are still very low, Bitcoin Cash remains one of the most volatile assets from the major cryptocurrencies, with a daily moving average of 4.47%, compared with 1.46% as much as Bitcoin has.
At this stage, the RSI and the Stochastic are indicating a slight retrace of the price but if the volumes will remain low, the trend will stay bearish and it seems it's just a matter of time until the price will test again the level of 419$, scenario which is confirmed by the MACD as well.
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