BCH/USD Market Remains, Featuring Lower Lows – February 23
The BCH/USD market operation remains, featuring lower lows. And they are not far from resulting in a recession trading condition. The crypto-economic valuation has initially pumped to a high of $305 and a low of $289 during today’s sessions at a minute negative percentage of 0.12.
Market Remains, Featuring Lower Lows: BCH Market
Key Levels:
Resistance levels: $350, $400, $450
Support levels: $250, $200, $150
BCH/USD – Daily Chart
The BCH/USD daily trading chart reveals the crypto-economic market remains, featuring lower lows to the south side within the bearish channel trend lines drawn. The 14-day SMA indicator is above the 50-day SMA indicator. The Stochastic Oscillators are in the oversold region, pointing toward the north direction to indicate the possibility of getting some ups in the near time.
Can there be high volatility in the BCH/USD as the crypto market remains, featuring lower lows?
Volatility can at any point in time occur in any pairing trading instruments. But, as concerns the BCH/USD trading operations currently, less-active movements are still expected to emerge as the crypto-economic market remains, featuring lower lows over a couple of several sessions. That said, the points between $300 and $200 are to be the areas where price has to build upon supports to make a better stride.
On the downside of the technical analysis, the 14-day SMA should serve as the instrument showcasing retardation signals against seeing smooth upward momentums gathering. A breakout around the indicator’s trend line will lead the market to face another round of resistance-trading situations around a higher value line of $400. In the meantime, if the crypto economy results in a consolidation-moving mode, the lower support level at $200 will act as the critical baseline against subsequent downsizing processes. And that time, shorting of more positions may get whipsawed in no time.
BCH/BTC Price Analysis
In comparison, Bitcoin Cash is still relatively trending under a falling force juxtaposed with Bitcoin. The cryptocurrency pair market remains, featuring lower lows underneath the trend line of SMAs. The 50-day SMA indicator is above the 14-day SMA indicator. The Stochastic Oscillators are below the range of 80, slightly bending southbound to signify that downward pressure is imminent in the market pair. That means the flagship counter crypto may soon be prevailing over the base crypto.
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