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Bitcoin Cash Price Analysis: BCH/USD might slide down – 29 June

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Key Points Bitcoin Cash Price Analysis: BCH/USD 29 June

  • Bitcoin cash price desist further and moved to another month to month low at $650 against the US Dollar.
  • There is another interfacing bearish pattern line shaped with hinderance close $690 on the hourly outline of the BCH/USD combine (information feed from Kraken).
  • The match is probably going to expand misfortunes towards the $640 and $630 levels in the close term.

Bitcoin cash price return in a downtrend underneath $700 against the US Dollar. BCH/USD may maybe keep on declining towards the $630 level if dealers stay in real life.

 

Bitcoin Cash Price Resistance

There was a crisp drawback wave started from the $780 swing high in bitcoin cash price against the US Dollar. The BCH/USD combine neglected to pick up footing, moved down, and broke a couple of essential backings, for example, $750 and $700. The decay was with the end goal that the price even broken the 76.4% Fib retracement level of the last leg from the $665 swing low to $780 high.

It brought about more misfortunes underneath the $665 swing low and the price exchanged to a new low close $650. It appears like the price may keep on moving down towards the $640 and $630 levels. The following target could be the 1.236 lie expansion level of the last leg from the $665 swing low to $780 high. Facilitate underneath this, the price may even test the $620 bolster zone. On the upside, an underlying opposition is close to the $680 level. There is additionally another interfacing bearish pattern line framed with opposition close $690 on the hourly diagram of the BCH/USD match.

 

Bitcoin Cash Price 29 June
Bitcoin Cash Price 29 June

 

Bitcoin Cash Price Analysis BCH USD

Taking a gander at the graph, the price stays in a noteworthy downtrend beneath $700. In the event that there is no recuperation eventually, the price may even test the $600 handle.

 

Taking a gander at the specialized markers:

Hourly MACD – The MACD for BCH/USD is picking up pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently close to the oversold levels.

Significant Support Level – $630

Significant Resistance Level – $690

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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