RATE Group | Bitcoin Cash price prediction: 200-HMA at 289
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Bitcoin Cash price prediction: 200-HMA at 289

09 Nov Bitcoin Cash price prediction: 200-HMA at 289

Posted at 04:37h in Bitcoin News by

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  • BCH bulls fighting back control as weekend love for crypto market returns.
  • On the road to recovery beyond 270, but will it last?

Following two straight days of massive declines, Bitcoin Cash (BCH/USD) is seen on a steady recovery mode so far this Saturday, as the weekend love for the cryptocurrencies seems to have returned. The coin bounced-off eleven-day troughs of 269.14 reached in Friday’s European trading and now trades around 280 levels, up nearly 1% on the day. Despite the latest recovery attempt, the price is down over 4.5% in the last 24 hours, still enjoying a market capitalization of $ 5.06 billion.

BCH/USD 1-hour chart

As observed on the hourly sticks, the price continues to battle the bearish 21-hourly Simple Moving Average (HMA) placed near 280.50 levels, as the buyers seek a sustained recovery above the last. Should the recovery gain traction, the next upside barrier at the downward sloping 50-HMA of 287.20 will come into play. Buying…

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