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Bitcoin Cash Price Prediction: BCH/USD Market Continues in a Correction

Published: Sunday, 12th December, 2021 - 13:52

BCH/USD Market Continues in a Correction – December 12
The BCH/USD market continues in a correction moving style as its price valuation trades around $445. The crypto-economic percentage rate of trading is at 3.03 negative.

Market Continues in a Correction: BCH Market
Key Levels:
Resistance levels: $500, $600, $700
Support levels: $400, $350, $300

BCH/USD – Daily Chart
The BCH/USD daily trading chart reveals that the crypto-economic market continues in a correction moving manner, as it has stylishly changed from a range-bound trading outlook to a bearish outlook. The upper bearish trend line drew alongside the smaller SMA trend line. The 50-day SMA indicator is above the 14-day SMA indicator. The lower bearish trend line drew southward to place a mark, indicating support that the market may find uneasy to breach further to the downside. The Stochastic Oscillators are seemingly conjoining the lines around range 20 to signify a consolidation moving style. That indicates that the market moves relatively, succumbing to depression.

Will the BCH/USD trade consolidate further at a lower spot as the market continues in a correction outlook?

It is apparent now that the BCH/USD trade operations face an ugly lower-trading condition as the crypto market continues in a correction, having nudged into a bearish outlook. That said, the lowering-trading style of the market at this point raises suggestions that traders intending to go long should be on the lookout for a return of an upswing in no time. Most indicators signal that the market is preparing to regain its lost worth on the north side.

On the downside of the technical analysis, the BCH/USD market bears appear heading to an exhaustive lower-trading zone around $400, as signified by the reading of the Stochastic Oscillators. Based on that, $500 resistance may smoothly breakout while volatile-motion upsurges afterward. And, by the time that assumption materializes, the market will be having a distinct change in the price direction.

BCH/BTC Price Analysis

In comparison, the trending capacity between Bitcoin Cash and Bitcoin, as shown on the price analysis chart, shows that the base crypto suffers as placed against its counter trading instrument. The 50-day SMA indicator is above the 14-day SMA indicator. The Stochastic oscillators have moved northbound from the oversold region close beneath the range of 40. But, presently, they are trying to cross the lines back to the south near above the range of 20. That suggests that the base crypto may still fall, placing with the flagship counter trading crypto.

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This post first appeared on: Inside Bitcoins

Author: Azeez Mustapha
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