Bitcoin Cash price analysis: BCH/USD market volatility shrinks down
- Following two straight bearish days, BCH/USD bulls had a positive start to Saturday.
- Relative Strength Index (RSI) indicator is trending around 39.70.
BCH/USD went up from $221.30 to $223.35 so far today. The daily price chart has met resistance at the $239.80-line, the downward trending line and the 20-day Simple Moving Average (SMA 20) curve. The hourly BCH/USD chart for Friday and Saturday shows us that the price reached an intra-day high of $234.45 before it dipped down to $220. The buyers have since stepped back in to snag up BCH for cheap, taking the price of the asset up to $223.35.
BCH/USD daily chart
The 20-day Bollinger jaw has narrowed dramatically, indicating decreasing market volatility. The Bollinger width has fallen from 0.695 to 0.297 over the previous six days. The Moving Average Convergence/Divergence (MACD) indicator shows six straight bullish sessions, while the Relative Strength Index (RSI) indicator is trending around 39.70.