Thursday, July 3, 2025
Social icon element need JNews Essential plugin to be activated.
No Result
View All Result
Digital Currency Pulse
  • Home
  • Crypto/Coins
  • NFT
  • AI
  • Blockchain
  • Metaverse
  • Web3
  • Exchanges
  • DeFi
  • Scam Alert
  • Analysis
Crypto Marketcap
Digital Currency Pulse
  • Home
  • Crypto/Coins
  • NFT
  • AI
  • Blockchain
  • Metaverse
  • Web3
  • Exchanges
  • DeFi
  • Scam Alert
  • Analysis
No Result
View All Result
Digital Currency Pulse
No Result
View All Result

Bitcoin Cash Eyes $288 As Bears Take Charge After Trendline Rejection

September 13, 2024
in Analysis
Reading Time: 4 mins read
A A
0

[ad_1]

Este artículo también está disponible en español.

Bitcoin Money (BCH) is bracing for a possible downturn after a quick rebound from a trendline did not ignite bullish momentum. As a substitute, the cryptocurrency now faces a bearish extension, with its sights set on the important thing help degree at $288. As sellers regain management, the market is on excessive alert, questioning if this renewed downward stress will drive BCH even decrease or if a bounce-back remains to be potential.

This text explores Bitcoin Money’s current bearish extension following its failure to break above the trendline. It’s going to analyze key technical indicators, study the market sentiment, and assess the potential for additional draw back motion towards the crucial $288 help degree. Moreover, the article will contemplate whether or not BCH can discover stability amid rising promoting stress or if a deeper decline is on the horizon.

Bearish Extension In Play: Bitcoin Money Path To The $288 Degree

On the 4-hour chart, BCH reveals notable bearish momentum because it approaches the 100-day Easy Shifting Common (SMA). The failure to beat this crucial trendline signifies that the stress is intensifying, with sellers more and more taking cost. This renewed downward drive raises the probability of additional declines, doubtlessly driving the value towards the $288 help degree.

Bitcoin
BCH set for additional decline as approaches the 100-day SMA | Supply: BCHUSDT on Tradingview.com

Moreover, the Relative Energy Index (RSI) on the 4-hour chart has just lately dropped towards the 50% threshold. This decline suggests a waning bullish momentum and signifies that the market could also be shifting in direction of a unfavorable sentiment, reinforcing the potential for extra declines in BCH’s value.

Associated Studying

On the 1-day chart, BCH is exhibiting a bearish trajectory towards the $288 help degree, following a rejection on the trendline. The pessimistic outlook is highlighted by the formation of two consecutive bearish candlesticks. Additionally, the truth that the value stays beneath the 100-day SMA reinforces the prevailing unfavorable market sentiment and signifies that the downward stress could persist, which might drive the value downward.

Bitcoin
BCH focusing on $288 after a trendline rejection | Supply: BCHUSDT on Tradingview.com

Lastly, on the 1-day chart, the RSI sign line, which just lately rose to 54%, is now testing the 50% threshold as soon as extra, suggesting that upbeat momentum could also be waning and that the market might be transitioning again to a bearish section. If the RSI falls beneath the 50% degree, it could affirm a shift in sentiment in direction of promoting stress, doubtlessly supporting the continued downward development in BCH’s value.

BCH’s New Problem: Navigating The Bearish Path

Bitcoin Money (BCH) is dealing with notable downbeat stress because it strikes towards the $288 help degree. Ought to the bearish stress proceed and the value breach this help, the crypto asset might see additional declines, presumably dropping to the $211 help degree and exploring extra key help zones past that.

Associated Studying

Conversely, if BCH manages to maintain above the crucial help degree, it might sign a possible restoration and push towards the $367 resistance mark. A breakout above this degree may propel the value increased, presumably testing the $457 resistance and lengthening to different important resistance areas.

On the time of writing, Bitcoin Money was buying and selling at roughly $329, reflecting a 2.71% decline. With a market capitalization surpassing $6.5 billion and a buying and selling quantity exceeding $158 million, BCH has seen a lower of two.78% in its market cap and a 23.14% drop in buying and selling quantity over the previous 24 hours.

Bitcoin
BCH buying and selling at $329 on the 1D chart | Supply: BCHUSDT on Tradingview.com

Featured picture from Unsplash, chart from Tradingview.com

[ad_2]

Source link

Tags: BCHBCHUSDBCHUSDTBearsBitcoinBitcoin CashCashChargeEyesRejectionRelative Strength IndexRSISimple Moving AverageSMATrendline
Previous Post

Shiba Inu vs GoodEgg: Crypto Experts Settle On GEGG To 100X In 2024 As Shiba Inu Faces Decline

Next Post

Using NFTs to Stop the Spread of Deepfakes

Next Post
Using NFTs to Stop the Spread of Deepfakes

Using NFTs to Stop the Spread of Deepfakes

Pixelmon Joins Token2049 with MON Hub and Web3 Gaming Events

Pixelmon Joins Token2049 with MON Hub and Web3 Gaming Events

Bitcoin and Ethereum Fee Drop: The Perfect Time for Cost-Effective Transactions

Bitcoin and Ethereum Fee Drop: The Perfect Time for Cost-Effective Transactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Social icon element need JNews Essential plugin to be activated.

CATEGORIES

  • Analysis
  • Artificial Intelligence
  • Blockchain
  • Crypto/Coins
  • DeFi
  • Exchanges
  • Metaverse
  • NFT
  • Scam Alert
  • Web3
No Result
View All Result

SITEMAP

  • About us
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • Cookie Privacy Policy
  • Contact us

Copyright © 2024 Digital Currency Pulse.
Digital Currency Pulse is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Crypto/Coins
  • NFT
  • AI
  • Blockchain
  • Metaverse
  • Web3
  • Exchanges
  • DeFi
  • Scam Alert
  • Analysis
Crypto Marketcap

Copyright © 2024 Digital Currency Pulse.
Digital Currency Pulse is not responsible for the content of external sites.