Bitcoin Cash (BCH) Closes Prior Hour Up 0.71%; 2 Day Down Streak Broken, Price Base in Formation Over Past 30 Days

The Hourly View for BCH

Last Updated March 31, 2021, 00:016 GMT

At the time of this writing, Bitcoin Cash’s price is up $3.72 (0.71%) from the hour prior. This is the 2nd consecutive hour Bitcoin Cash has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning above it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Bitcoin Cash Daily Price Recap

518.17 (USD) was the opening price of the day for Bitcoin Cash, resulting in the previous day being one in which price moved up 4.22% ($20.99) from the previous day. This move happened on lower volume, as yesterday’s volume was down 15.18% from the day before — and down 14.51% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin Cash ended up ranking 3rd for the day in terms of price change relative to the previous day. Below is a daily price chart of Bitcoin Cash.

BCH

Bitcoin Cash Technical Analysis

Coming into today Bitcoin Cash is now close to its 20 day moving averages, which may act as price barrier for the asset. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 10 days Bitcoin Cash’s price has gone down 6 them.

Overheard on Twitter

Over on Twitter, here were the top tweets about Bitcoin Cash:

  • From Bloqport:

    “Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.”

  • From thesiriusreport:

    Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases.So they don’t pay with cryptos, they pay with FIAT.That’s progress?It’s laughable.

  • From OliCryptoDotCom:

    @APompliano @annairrera …to spend their Bitcoin, Bitcoin Cash, Ether & Litecoin.Crypto is inevitable.$BTC is not, because of high fees and slow transactions.It will lose to more user-friendly cryptocurrencies (though $BTC is not currency at all).

For a longer news piece related to BCH that’s been generating discussion, check out:

Developers Launch the First Hosted Noncustodial Payment Processor for Bitcoin Cash Payments – Technology Bitcoin News

The Prompt.cash project also has a Flipstarter fundraiser going on right now, as the developers are raising 390 BCH….“We already have a working payment processor implemented in Go, following best practices and code standards.” So far, the Prompt.cash project has raised 206 BCH or over $100k worth of bitcoin cash….What do you think about the noncustodial payment processor project Prompt.cash?