Bitcoin Cash (BCH) Price Near $1,004.55; Moves Up For the 2nd Straight Day

The Hourly View for BCH

Last Updated May 3, 2021, 02:016 GMT

At the time of this writing, Bitcoin Cash’s price is down $-1.47 (-0.15%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on Bitcoin Cash. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Bitcoin Cash Daily Price Recap

Bitcoin Cash came into today up 1.08% ($10.71) from the open of the day prior, marking the 2nd straight day it has gone up. The price move occurred on volume that was down 18.09% from the day prior, but up 31.74% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin Cash ended up ranking 6th for the day in terms of price change relative to the day prior. The daily price chart of Bitcoin Cash below illustrates.

BCH

Bitcoin Cash Technical Analysis

Volatility for Bitcoin Cash has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 5 out of the past 10 days.

Overheard on Twitter

Behold! Here are the top tweets related to Bitcoin Cash:

  • From KimDotcom:

    @harmonylion1 Bitcoin Cash is a Bitcoin fork and its DNA is almost identical, hence the name. BCH champions the intention of Satoshi to create P2P Electronic Cash. Let the market decide. Over 95% of Internet users are not yet into crypto. It’s a long race ahead before victory can be declared.

  • From 2Xs2u:

    To reward early adaptors and investors we will distribute 10% of the amount XS2U bought in each month, back in bitcoin cash.
    So at the 1st of every month you will recieve your divident share in your bitcoin dot com wallet for as long as you keep your XS2U tokens.

  • From obiwankobe1:

    @mattguergawi @OyeYknow @billmaher Look the Vechain network and $VET, look at the Basic Action Token or $BAT, look at Siacoin and Filecoin, look at NANO, Bitcoin Cash, and Litecoin. If you don’t see value in what they provide then you aren’t looking.

As for a news story related to Bitcoin Cash getting some buzz:

The Benefits of Coupling Ethereum With Bitcoin Cash: Smartbch Sidechain Testnet Is Now Public – Interview Bitcoin News

by
Jamie Redman
On Thursday, the Smart Bitcoin Cash team announced the launch of the Smartbch testnet explaining that developers and decentralized app makers can now experiment and develop with the high-performance, EVM-compatible Bitcoin Cash sidechain….Further, Bitcoin.com News spoke with Wang Kui the lead developer of the Smartbch project….During the last few weeks, the Smartbch project has been a topical conversation within the Bitcoin Cash (BCH) community….This is because the Smartbch project is a sidechain built on Bitcoin Cash and it leverages the BCH chain’s lower transaction fees….“However, as a sidechain to Bitcoin Cash, Smartbch aims to build a new playground for the Bitcoin Cash ecosystem and enlarge the user base.” Wang Kui the lead developer of the Smartbch further discussed the protocol with Bitcoin.com News this week….WK: Bitcoin Cash miners can vote for their validators on Smartbch and get gas fee rewards, such that they can benefit from decentralized finance (defi) applications on Smartbch.