Bitcoin Cash (BCH) Value Increase by 4.02%, as Bulls Express Dominance

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RESULTS

In this ongoing session, Bitcoin Cash price action seems to have decisively broken through an important resistance level. And from the look of price activity, it appears that this market is preparing to move even higher. Without further ado, let’s take a closer look at price developments in this market.

Bitcoin Cash Analysis Data:
BCH value now: $147.58
Bitcoin Cash market cap: $2.93 billion
BCH moving supply: 19,317,575
BCH Total Supply: 19,317,575
Bitcoin Cash Coinmarketcap ranking: #27

Major Price Levels:
Top: $147.54, $150.00, $155.00
Base: $147.00, $146.00, $145.00

Bitcoin Cash (BCH) Buyers Are Dominating the Market

For the fifth consecutive trading session on the daily market, buyers have aggressively pushed up the BCH/USD price. Furthermore, trading indicators keep showing positive signs that price action in this market may keep rising in the meantime. The lines of the Moving Average Convergence Divergence (MACD) indicator move steeply in the upside direction. This occurred following the crossover of the indicator curves above the equilibrium point. Also, the histogram bars of this indicator is growing green and taller to indicate the strength of market bulls. Likewise, the lines of the RSI indicator keep rising into the overbought region, indicating a gain in bullish momentum. Signals from technical indicators, on the daily chart, are indicating that price action is on the rise!

Bitcoin Cash (BCH) Price Action Is Preparing to Gain More Upside Momentum

Now on the 4-hour BCH/USD market, it appears price activities are ready to increase is upside movement. Here, the last price candle seems about to break the ceiling of the upside-sloping price channel in which price activity is occurring. The wick of the latest price candle can already be seen poking through the ceiling of this price channel. Meanwhile, the MACD indicator seems to be revealing that buyers are gaining more buying momentum. This can be seen as the MACD’s leading line recently to diverged upward. At the same time, the RSI lines have been moving towards the oversold region, however, it appears that these lines are now making moves to pullback upwards. Nevertheless, it looks like price action will keep moving upward toward the $160 price mark.

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