Source: Trading View
The one-day chart of Bitcoin Cash indicates an enormous fall from $772.74 to $566.10, which further extends from $627.54 to $155.80. The coin registered a significant uptrend from $156.10 to $178.40 in the one day chart. The coin met with resistance at $196.55 while the support goes as low as $76.19.
Parabolic SAR marks a bearish market with markers aligning above the candlesticks.
MACD line is under the signal line pointing towards a bearish market right after a recent crossover.
Relative Strength Index indicates that the buying and selling pressures are evening each other out.
As per the one-hour chart, Bollinger Bands, Parabolic SAR, and MACD indicate a bearish market. However, Awesome Oscillator and Chaikin Money Flow predict a bullish trend. Going by the majority, the market forecasted is a bearish one.
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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.