Bitcoin Cash (BCH) Closes Prior Hour Up 0.85%; 3 Day Down Streak Broken, Breaks Above 50 Day Average, is Inching Close to 50 and 200 Day Averages

The Hourly View for BCH

Last Updated November 17, 2020, 03:016 GMT

At the moment, BCH’s price is up $2.15 (0.85%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them so that price is now turning above it. 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 is up 3.7% ($8.88) since yesterday, marking a reversal from the day prior — and the end of a 3 day negative run. The price move occurred on stronger volume; specifically, yesterday’s volume was up 12.4% from the day prior, and up 147.91% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin Cash ranked 4th since yesterday in terms of percentage price change. Below is a daily price chart of Bitcoin Cash.

BCH

Bitcoin Cash Technical Analysis

Notably, Bitcoin Cash crossed above its 50 day moving average yesterday. Also of note is that on a 90 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 14 days Bitcoin Cash’s price has gone down 9 them.