In this Bitcoin Cash technical analysis, we will examine the current price action, trading volume, key levels and indicators for BCH-USDT. Bitcoin Cash is a hard fork of the Bitcoin blockchain that was created in August 2017. It was designed to increase the block size limit from 1MB to 8MB, allowing for faster transaction processing and lower fees. With its focus on scalability and usability, Bitcoin Cash has gained popularity among users looking for a more efficient and cost-effective cryptocurrency solution.
Bitcoin Cash Price Overview:
As of July 02, 2024, Bitcoin Cash is trading at approximately 380.5 USDT. Let’s dive into the detailed price action for BCH-USDT:
| Metric | Value |
|---|---|
| Open (O) | 384.5 |
| High (H) | 394.2 |
| Low (L) | 378.4 |
| Close (C) | 380.5 |
| Volume (C) | 17,670.51 |
- Open (O): The opening price for today’s trading session was approximately 384.5 USDT.
- High (H): Bitcoin Cash reached a daily high of around 394.2 USDT.
- Low (L): The daily low for BCH-USDT was approximately 378.4 USDT.
- Close (C): At the time of analysis, Bitcoin Cash is trading near its daily close of 380.5 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.07% |
| 3D Change (%) | -0.11% |
| 7D Change (%) | -2.08% |
| 30D Change (%) | -16.98% |
| 90D Change (%) | -35.81% |
| YTD Change (%) | 46.52% |
Over the past three days, BCHUSDT has decreased by approximately -0.11%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -2.08%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BCHUSDT maintaining a downward trend of approximately -16.98%, despite intermittent fluctuations. Examining the last 90 days, BCHUSDT has witnessed substantial drop of approximately -35.81%, reflecting strong long-term confidence. Year-to-date, BCHUSDT has steadily appreciated by around 46.52%, 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 0.52216.
- Momentum score is -0.14724.
BCH USDT Technical Analysis
Bitcoin Cash Trading Volume:
The trading volume for Bitcoin Cash (BCH) over the past 24 hours has been insignificant, with approximately 17,670.51 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 below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Bitcoin Cash is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for BCH-USDT is currently in the low zone, around 42.36745. This suggests that Bitcoin Cash is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Bitcoin Cash (BCH-USDT) is currently exhibiting signs of short-term bearish 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 low RSI and insignificant trading volume are low signals for potential downward movement.
Unveil potential setbacks for Bitcoin Cash (BCHUSDT) at 380.50 USDT through technical analysis, showcasing bearish trends, weakened support, and cautionary indicators.
Don’t overlook our detailed insights on BCH BTC Bitcoin Cash Technical Analysis if you found this post captivating; it’s a must-read for further exploration.
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.