Bitcoin Cash (BCH) Price Near $564.31; in a Downtrend Over Past 14 Days, Price Base in Formation Over Past 30 Days, Heads Down For the 3rd Consecutive Day

The Hourly View for BCH

Last Updated May 24, 2021, 02:048 GMT

Currently, BCH’s price is up $7.43 (1.33%) from the hour prior. The hourly chart shows that BCH has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Bitcoin Cash Daily Price Recap

Bitcoin Cash came into today down 12.14% ($76.52) from the open of the previous day, marking the 3rd consecutive day it has gone down. The price move occurred on stronger volume; specifically, yesterday’s volume was up 33.58% from the day prior, and up 18.99% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin Cash ranked 4th since the previous day in terms of percentage price change. Let’s take a look at the daily price chart of Bitcoin Cash.

Bitcoin Cash Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Bitcoin Cash crossed below its 200 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 7 out of the past 10 days.

Overheard on Twitter

Over on Twitter, here were the top tweets about Bitcoin Cash:

  • From BunkFreamon:

    @BrendanBlumer @AriDavidPaul @elonmusk Did you forget how much mining support and support from huge figures like Roger Ver and Gavin Andresen there were? Bitcoin Cash had plenty of opportunity to gain network effects. No one wanted it. Period.

  • From Amperduke:

    @PeterMcCormack It’s easy to forget for people that have been in the market for a while, that for newcomers they will find it extremely difficult to see the difference between Bitcoin and Bitcoin Cash. It makes BCH the ultimate long term scam.

  • From TBCLAA:

    @CptHodl I hope so because #safemooncash will be to #safemoon what bitcoin cash is to bitcoin and etherium classic is to etherium. I have both! And I feel extremely safe!🚀🚀🚀🚀🚀🚀🚀🚀

In terms of news links for Bitcoin Cash here’s one to try:

CryptoBroski #61: Bitcoin Cash Broski – CryptoBroskis | OpenSea

CryptoBroskis are little brotinos to keep your NFT’s company at the blockchain lounge….Each one comes with a link to discover new musicians as well as support the environment and charities….50% of our 10% commission goes to trees and charities with each trade and resale!…Let’s save the world with NFT’s !