BCH/USD Price Drops in Ranges – December 15 The BCH/USD financial operation financial book witnessed that the crypto market price fell to around $400. As a sign of an ongoing northward swing towards $437, the market's percent rate is 0.06. Price drops in ranges: BCH Market Key levels: Resistance levels at $500, $600 and $700 Support levels at $400, $350 and $300


Daily Chart BCH/USD The daily BCH/USD trading chart shows that the crypto-economic market price has fallen to around $400. The path of the lower bearish channel trend line is shown in the candlesticks. The larger SMA also drew the upper channel bearish trend line. The 50-day SMA indicator is higher than the 14-day SMA. Stochastic Oscillators seem to be continuing to consolidate northbound, even though they are in the oversold area just below the 40 range. This means that the market is poised to move northward.

Are traders ready to place long positioning orders, as the BCH/USD prices drop to close to $400?

As the BCH/USD prices fall to around $400, some caution must still be exercised. Long-position traders should be alert and cautious about when the price will rebound from a lower value area. It is possible that smaller downs will occur again to give the price a chance to reposition to the upside. Contrary to technical analysis's upside, the market may encounter a difficult-trading environment around $500. The price could resist the slow and steady market operations. For sustainability, the support level of $400 might not be broken down southward.

Analysis of BCH/BTC Price

The trending ability of Bitcoin Cash paired with Bitcoin is depressive. This allows the counter trading instrument to control the trend. The trend lines of SMAs are not affected by the cryptocurrency pair's price. The 50-day SMA indicator has moved above the 14 day SMA indicator. The Stochastic Oscillators are now moving southbound towards the range of zero. This indicates that the base crypto is moving downwards to a new round of lower-based trading zones. The counter crypto could soon relax and allow the base crypto's technical view to take a turn for the better.

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By: Azeez Mustapha
Title: Bitcoin Cash Price Prediction: BCH/USD Price Moves Down Close to $400
Sourced From: insidebitcoins.com/news/bitcoin-cash-price-prediction-bch-usd-price-moves-down-close-to-400
Published Date: Thu, 16 Dec 2021 19:38:08 +0000