RATE Group | BCH/USD falls further as bears refuse to loosen their stranglehold
63100
post-template-default,single,single-post,postid-63100,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

BCH/USD falls further as bears refuse to loosen their stranglehold

25 Sep BCH/USD falls further as bears refuse to loosen their stranglehold

Posted at 03:32h in Bitcoin News by

[ad_1]

  • BCH/USD went down from $292.25 to $242.35 this Tuesday.
  • The RSI indicator is trending around the oversold zone.

Bitcoin Cash had a heavily bearish Tuesday where the price fell from $292.25 to $242.35. The bears are still not letting go of their stranglehold as the price has fallen further to $228.20. In the process, BCH/USD has had six straight bearish days, falling from $324.30 to $228.20, charting a 29.60% drop in price. The hourly breakdown shows us that BCH/USD has dropped from $276.50 to $240.25 within an hour. Since then, the bulls did try to mount a comeback but were soon overwhelmed by the bears.

BCH/USD daily chart

fxsoriginal

The price has dropped below the 20-day Bollinger Band, which shows that BCH/USD is currently undervalued. The widening of the 20-day Bollinger jaw shows increasing market volatility. The price is also trending below the 200-day Simple Moving Average (SMA), SMA 50 and SMA 20 curves. The SMA 200 has crossed over both the SMA 50 and SMA 20…

[ad_2]

Source link

Tags:
, , , , ,