BCH/USD Market Keeps Less-Active Moves at $700 – November 15
There has been a chain of continual recess trading situations in the BCH/USD trade as the market keeps less-active moves around $700. The crypto’s price trades against the US dollar at a relatively negative smaller percentage rate of about 1.41 to maintain the trading volume of about $670 as of writing.
Market Keeps Less-Active Moves at $700: BCH Market
Resistance levels: $750, $800, $850
Support levels: $600, $550, $500
BCH/USD – Daily Chart
The BCH/USD daily trading chart shows that the crypto market keeps less-active moves around the level of $700 as there have been traces that signify that the market still moves as well in a range-bound manner at a higher spot. The 14-day SMA trend line has crossed the 50-day SMA from the beneath around $600 support level. That makes the support value-line validly intact considering the pace at which the market is pushing presently. The Stochastic Oscillators have slowly gone southbound, placing the lines closed a bit over the range of 40. That suggests that the market may still go a long way, trying to bring back active motion in determining a definite direction at this current trading zone.
Will there still be a continued range-bound session in the following business operations of the BCH/USD as the market keeps less-active moves at $700?
There will be a continued range-bound session in the following business operations of the BCH/USD as long as the keeps less-active moves at $700 level. Based on that, the possibility of having a chance to place an order appears flimsy while the present trading condition persists. Therefore, the verdict could be that traders should stay clear of the market for the time being.
On the downside of technical analysis of the market, the BCH/USD trade bears may stay alert to observe what can be the price responses around the upper range line before deciding to make an order. A fearful pull-down is needed to stage around the range value-line before a decent sell position can obtain. At this point, traders intending to go bearish should exercise their actions based on the principles of the levity trading approach.
BCH/BTC Price Analysis
In comparison, the Bitcoin Cash’s trending capacity is still under depression as pairing with Bitcoin until the present. The 50-day SMA trend line is above the 14-day SMA trend line. A smaller couple of daily candlesticks have formed closely on the buy signal side of the smaller SMA indicator, denoting that the base crypto is yet to come out of the under-valuating trend, as imposed by the counter crypto. The Stochastic Oscillators now look somewhat erratic in their current consolidation movements around the range of 80. That signifies the cryptocurrency pair market may further its less-active motion until a while.
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This post first appeared on: Inside Bitcoins