BCH USDT Bitcoin Cash Technical Analysis

Bitcoin Cash logo In this Bitcoin Cash technical analysis, we will examine the current price action, trading volume, key levels and indicators for BCH-USDT. Sure, here are three sentences about Bitcoin Cash (BCH) cryptocurrency: Bitcoin Cash is a fork of the Bitcoin blockchain that was created in August 2017 to increase the block size limit and improve transaction speeds. With a larger block size, Bitcoin Cash enables faster and cheaper transactions, making it an attractive option for merchants and users looking for a more efficient cryptocurrency. Additionally, Bitcoin Cash has implemented several technologies such as the Lightning Network and the Simple Ledger Protocol to further enhance its scalability and usability.

Bitcoin Cash Price Overview:

As of October 03, 2023, Bitcoin Cash is trading at approximately 232.2 USDT. Let’s dive into the detailed price action for BCH-USDT:

Metric Value
Open (O) 246.3
High (H) 251.5
Low (L) 230.2
Close (C) 232.2
Volume (C) 184,357.96
  • Open (O): The opening price for today’s trading session was approximately 246.3 USDT.
  • High (H): Bitcoin Cash reached a daily high of around 251.5 USDT.
  • Low (L): The daily low for BCH-USDT was approximately 230.2 USDT.
  • Close (C): At the time of analysis, Bitcoin Cash is trading near its daily close of 232.2 USDT.
Metric Value
1D Change (%) -5.72%
3D Change (%) -0.73%
7D Change (%) 8.20%
30D Change (%) 18.41%
90D Change (%) -14.63%
YTD Change (%) 139.38%

Over the past three days, BCHUSDT has dropped by approximately -0.73%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 8.20%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BCHUSDT maintaining an upward trend of approximately 18.41%, despite intermittent fluctuations. Examining the last 90 days, BCHUSDT has witnessed substantial fall of approximately -14.63%, reflecting strong long-term confidence. Year-to-date, BCHUSDT has steadily appreciated by around 139.38%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

Bitcoin Cash Live Chart:

You can access a live price chart for BCH-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.47819.
  • Momentum score is 0.18409.

BCH USDT Technical Analysis

Bitcoin Cash Trading Volume:

The trading volume for Bitcoin Cash (BCH) over the past 24 hours has been significant, with approximately 184,357.96 USDT traded against BCH. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): BCH is currently trading above the 50-day SMA, indicating short-term bullish momentum.
  • 200-day Simple Moving Average (SMA): Bitcoin Cash is also trading above the 200-day SMA, indicating a positive long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for BCH-USDT is currently in the high zone, around 55.5541. This suggests that Bitcoin Cash is in bullish territory.

Analysis from TradingView:

Our Key Takeaways:

Bitcoin Cash (BCH-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the high RSI and significant trading volume are high signals for potential upward movement.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.