September 24, 2023

BitCash has gained a bullish push for the day as its price has skyrocketed up to $294 in the course of the last 24 hours. BitCash bulls managed to keep up their momentum in a regular manner while they made more recovery in the past two days. The latest bullish gains began on Saturday as price actions have been going upward from then, and the price increase has been witnessed on Sunday as well. Nevertheless, at present, a correction is underway once again, but it is likely prices will increase further in the event of the support from bulls remaining intact. 

BitCash (BCH) Gains 1% on the Day

BCH/USD One Day price chart. Source TradingView

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Bitcoin cash one-day report has it that prices are in favor of bullish traders as the price has gone up to $294.4 on Sunday. The cryptocurrency pair successfully gained up to 1% in 24 hours, while it gained just 0.70% in the past week. Though the trading volume decreased by 9.97%, the market capitalization has gone up by 1.21%, which resulted in the market dominance of up to 0.32%.

The market volatility of the BCH/USD pair is quite high because the Bollinger band happens to cover more areas, as the upper end of the Bollinger band, which is at $333 benchmarks, represents resistance. The lower end of the Bollinger band is at $267 benchmarks representing the support for BCH/USD. The mean average is forming near $300 over the present price.

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The relative strength index is presently trading at the lower end of the neutral region at index 46 at an upward trajectory. Available indicators reveal a slow level of progression in purchasing activities.

Latest Developments and More Technical Indicators

BCH/USD 4-Hour price chart. Source TradingView

The BitCash price analysis for 4 hours shows that bulls are being outrun by bears, and prices were going on a downward trend again. The price went up rapidly at the beginning of the trading session, but it resumed correction again afterward. But on the overall scale, the trend has been largely in favor of those buying as price levels have increased.

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The price volatility is decreasing at the time of putting this piece together. The top band has moved down to about $297, a position that represents resistance for BitCash, while the lower band is near the $282 benchmarks, making up to an average of $290. 


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