Published: 2018-11-29 09:48:58
BCHSV/USD Medium-term Trend: Ranging
Supply zones: $150, $200, $250Demand zones: $30, $20, $10
BCHSV is in a range-bound market in its medium-term outlook. $74.26 in the demand area was the low the bearish pressure could drop the cryptocurrency before rejection by the 50-EMA which acted as strong support for the bulls come back.
The bullish pressure got price up at $94.04 in the supply area. This was the high of the day as the bears stage a returned due to the bearish railroad formed at $92.92.BCHSVUSD dropped to $87.32 before the end yesterday session.
Price is above the 10-EMA but the stochastic oscillator is at 42% and its signal is parallel which reflects the range-bound market.
BCHSVUSD is in consolidation and trading between $105.09 in the upper supply area and at $75.63 in the lower demand area of the range. Traders should wait for a breakout at the upper supply area or breakdown at the lower before taking a position.
BCH/USD Short-term Trend: Bullish
The cryptocurrency is in a bullish trend in its short-term outlook. The large bullish candle $79.91 broke the two EMAs that acted as resistance thus confirming the bulls take over as price rose to $94.30 in the supply area.
The bullish marubozu candle at $85.02 after today’s opening returned the bulls after the minor bearish pullback. BCHSVUSD was up at $94.09 in the supply area.
Price is above the two EMAs crossover and the stochastic oscillator signal points up at 43%. These suggest upward momentum in price of the cryptocurrency as the bulls’ momentum increases in the short-term.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
The views and opinions expressed in the article Bitcoin Cash SV (BCHSV) Daily Price Forecast – November 29 do not reflect that of 48coins.com nor of its originally published source. Article does not constitute financial advice. Proceed with caution and always do your own research.