Bitcoin Cash (BCH) Declines to $600 Support, Resumes Uptrend

Azeez Mustapha
13 September 2021 | Updated: 13 September 2021

Key Highlights
BCH revisits previous low at $600
BCH/USD reaches an oversold region

Bitcoin Cash (BCH) Current Statistics
The current price: $611.15
Market Capitalization: $12,885,114,310
Trading Volume: $6,135,845,664
Major supply zones: $700, $720, $740
Major demand zones: $250, $230, $210

Bitcoin Cash (BCH) Price Analysis September 13, 2021
Bitcoin Cash’s (BCH) price rebounds above $600 as it rallies to $660 high. The altcoin was earlier repelled at $660 as it fell to the previous low. On the daily chart, if bears break below the moving averages, the selling pressure will resume. Similarly, if sellers break below the $600 support, the downtrend will resume. BCH will further decline to $550 low.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
The altcoin is at level 45 of the Relative Strength Index period 14. It indicates that the crypto is in the downtrend zone and capable of falling on the downside. The 21-day and 50-day SMAs are pointing northward indicating the uptrend. The crypto is above the 25% range of the daily stochastic. BCH is in a bullish momentum.

Conclusion
BCH has been in a downward move. The altcoin has fallen to the previous low at $600. This was the historical price level of August 27. On August 27, the support at $600 was held as the altcoin resume its upward move. Today, if the same support holds, the crypto will rise to the previous highs.

BCH/USD – 4 Hour Chart

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Azeez Mustapha

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.