The performance of BCH/USD has been uneven as it fell severally and rose a few times. It has been unable to put up a consistent bullish run. It has been following a pattern of beginning the day with either an uptrend or downtrend, but corrects it towards the end.

BCH/USD price keeps consolidating itself in a flag formation, looking forward to a cross beneath the 9-day moving average. The price declined to $333.07 at the opening of the market on Jan. 21 and later retraced to its current level. The weakness of the support could prompt a price breakdown as fresh weekly lows could be located at $270, $260 and $250 support levels.

Contrariwise, a bullish attempt could take the price to the barrier at $380 with a likely break out of the channel. It may move towards the barriers at $390 and $400, forming a fresh weekly high. Currently, the RSI (14) indicator is in similar direction under the oversold zone. A bullish cross could show a buy signal.

As for BCH/BTC Market, the sideways movement in recent times is because of price stability in BCH trading showing that the hurdle-support is at equilibrium. It is likewise noteworthy that the market is ready for a change in trend and it is more likely to have a short-term bearish breakout due to the technical indicator RSI (14) move beneath the 68-level.

Nevertheless, the bullish trend may continue if the 0.039 BTC level is able to keep supporting the market, then there is a likelihood of the price to reach out for the barrier at 0.042 BTC and above. The BCH/BTC pair keeps moving sideways, trading above the moving averages.

BCH/USD Price Moves in Sideways

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BCH/USD Price Moves in Sideways

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