BCH/USD Trade Experiences Lower Lows– January 30
It observed that the BCH/USD trade experiences lower lows after suffering from a decline lately. The crypto economy trades between $299 and $294 at a minute negative percentage of 0.96.
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Trade Experiences Lower Lows: BCH Market
Resistance levels: $400, $450, $500
Support levels: $250, $200, $150
BCH/USD – Daily Chart
The BCH/USD daily trading chart reveals the crypto-economic trade experiences lower lows after it couldn’t push over the $400 level. The 14-day SMA indicator trends closely above the formation of variant bearish candlesticks have been underneath the 50-day SMA indicator to affirm the presence of sellers on a higher note. The bearish channel trend lines drew, keeping all the activities within. The Stochastic Oscillators have slantingly crossed northbound between 20 and 40 range lines to denote that an upward force is imminent in the near time. But, a set of tinier candlesticks have featured to cause an indecision trading moment presently.
Will the BCH/USD market go into recession as the crypto trade experiences lower lows?
It is most likely achievable to see the BCH/USD market resulting in a recession trading situation if the two market movers fail to act in the crypto economy for a period. However, what is obtainable has not been different from the fact that the market has to respond more positively to downing than mooning. Some upswings may come to play around $300 if the price doesn’t succumb timely to downward pressure at that trading capacity afterward.
On the downside of the technical analysis, the BCH/USD market short-position takers still have the potentiality of pushing downward after trying to spring up to encounter resistance around the trend line of the 14-day SMA indicator at a point in time. It means the spot before the $400 resistance level expectantly has to witness the presumed scenario afterward. Traders would have to cautiously wait for the outcome of the presumption to materialize before taking a decision.
BCH/BTC Price Analysis
In comparison, Bitcoin Cash still goes under, placing Bitcoin on the price analysis chart. The 50-day SMA indicator is above the 14-day SMA indicator. The bearish trend lines closely over the smaller SMA, touching the psychological points from which each significant falling force has made. The Stochastic Oscillators are in the oversold region with their lines conjoined, slightly pointing northbound within to signify the possibility of the base crypto pushing against the counter crypto in no time.
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