Friday, August 1, 2025
No Result
View All Result
Coin Digest Daily
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • Metaverse
  • Web3
  • DeFi
  • Analysis
  • Scam Alert
  • Regulations
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • Metaverse
  • Web3
  • DeFi
  • Analysis
  • Scam Alert
  • Regulations
No Result
View All Result
Coin Digest Daily
No Result
View All Result

Bitcoin Cash Eyes $288 As Bears Take Charge After Trendline Rejection

13 September 2024
in Analysis
Reading Time: 4 mins read
0 0
A A
0
Home Analysis
Share on FacebookShare on Twitter


Este artículo también está disponible en español.

Bitcoin Money (BCH) is bracing for a possible downturn after a quick rebound from a trendline did not ignite bullish momentum. As a substitute, the cryptocurrency now faces a bearish extension, with its sights set on the important thing assist degree at $288. As sellers regain management, the market is on excessive alert, questioning if this renewed downward strain will drive BCH even decrease or if a bounce-back remains to be potential.

This text explores Bitcoin Money’s current bearish extension following its failure to break above the trendline. It’s going to analyze key technical indicators, look at the market sentiment, and assess the potential for additional draw back motion towards the important $288 assist degree. Moreover, the article will take into account whether or not BCH can discover stability amid rising promoting strain or if a deeper decline is on the horizon.

Bearish Extension In Play: Bitcoin Money Path To The $288 Degree

On the 4-hour chart, BCH reveals notable bearish momentum because it approaches the 100-day Easy Shifting Common (SMA). The failure to beat this important trendline signifies that the strain is intensifying, with sellers more and more taking cost. This renewed downward pressure raises the probability of additional declines, probably driving the worth towards the $288 assist degree.

BCH set for additional decline as approaches the 100-day SMA | Supply: BCHUSDT on Tradingview.com

Moreover, the Relative Energy Index (RSI) on the 4-hour chart has not too long ago dropped towards the 50% threshold. This decline suggests a waning bullish momentum and signifies that the market could also be shifting in direction of a destructive sentiment, reinforcing the potential for extra declines in BCH’s worth.

Associated Studying

On the 1-day chart, BCH is exhibiting a bearish trajectory towards the $288 assist degree, following a rejection on the trendline. The pessimistic outlook is highlighted by the formation of two consecutive bearish candlesticks. Additionally, the truth that the worth stays beneath the 100-day SMA reinforces the prevailing destructive market sentiment and signifies that the downward strain could persist, which may drive the worth downward.

Bitcoin
BCH concentrating on $288 after a trendline rejection | Supply: BCHUSDT on Tradingview.com

Lastly, on the 1-day chart, the RSI sign line, which not too long ago rose to 54%, is now testing the 50% threshold as soon as extra, suggesting that upbeat momentum could also be waning and that the market may very well be transitioning again to a bearish section. If the RSI falls beneath the 50% degree, it will affirm a shift in sentiment in direction of promoting strain, probably supporting the continued downward pattern in BCH’s worth.

BCH’s New Problem: Navigating The Bearish Path

Bitcoin Money (BCH) is going through notable downbeat strain because it strikes towards the $288 assist degree. Ought to the bearish strain proceed and the worth breach this assist, the crypto asset may see additional declines, probably dropping to the $211 assist degree and exploring further key assist zones past that.

Associated Studying

Conversely, if BCH manages to maintain above the important assist degree, it may sign a possible restoration and push towards the $367 resistance mark. A breakout above this degree may propel the worth larger, probably testing the $457 resistance and increasing to different vital resistance areas.

On the time of writing, Bitcoin Money was buying and selling at roughly $329, reflecting a 2.71% decline. With a market capitalization surpassing $6.5 billion and a buying and selling quantity exceeding $158 million, BCH has seen a lower of two.78% in its market cap and a 23.14% drop in buying and selling quantity over the previous 24 hours.

Bitcoin
BCH buying and selling at $329 on the 1D chart | Supply: BCHUSDT on Tradingview.com

Featured picture from Unsplash, chart from Tradingview.com



Source link

Tags: BearsBitcoinCashchargeeyesRejectionTrendline
Previous Post

CCP Games Rebrands Web3 Survival Game as Eve Frontier

Next Post

Polygon’s POL (MATIC) Token Spikes 15% on Binance Listing

Related Posts

Solana DEX volume dips 20% after co-founder slams meme coins – CoinJournal
Analysis

Solana DEX volume dips 20% after co-founder slams meme coins – CoinJournal

1 August 2025
XRP inflows drop 95% since July spike, while Chaikin data signals possible rally – CoinJournal
Analysis

XRP inflows drop 95% since July spike, while Chaikin data signals possible rally – CoinJournal

31 July 2025
Analyst Says XRP Price Is Now In Wave 4 — What To Expect
Analysis

Analyst Says XRP Price Is Now In Wave 4 — What To Expect

1 August 2025
Cardano (ADA) Aims Higher – Bullish Setup Hints at New Leg Up
Analysis

Cardano (ADA) Aims Higher – Bullish Setup Hints at New Leg Up

31 July 2025
XRP Price Consolidation Deepens – Resistance Still Capping Upside
Analysis

XRP Price Consolidation Deepens – Resistance Still Capping Upside

31 July 2025
PENDLE token goes live on BeraChain and HyperEVM to expand cross-chain utility – CoinJournal
Analysis

PENDLE token goes live on BeraChain and HyperEVM to expand cross-chain utility – CoinJournal

30 July 2025
Next Post
Polygon’s POL (MATIC) Token Spikes 15% on Binance Listing

Polygon's POL (MATIC) Token Spikes 15% on Binance Listing

Worldcoin Announces Its Integration Of World ID Into Solana

Worldcoin Announces Its Integration Of World ID Into Solana

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
FTT jumps 7% as Backpack launches platform to help FTX victims liquidate claims – CoinJournal

FTT jumps 7% as Backpack launches platform to help FTX victims liquidate claims – CoinJournal

19 July 2025
PENDLE token goes live on BeraChain and HyperEVM to expand cross-chain utility – CoinJournal

PENDLE token goes live on BeraChain and HyperEVM to expand cross-chain utility – CoinJournal

30 July 2025
BNB Price Gears Up for Upside Break — Will Bulls Deliver?

BNB Price Gears Up for Upside Break — Will Bulls Deliver?

8 July 2025
Something Big Is Coming For XRP On July 9—Why It Matters

Something Big Is Coming For XRP On July 9—Why It Matters

8 July 2025
XRP could rally higher on steady capital inflow; check forecast

XRP could rally higher on steady capital inflow; check forecast

8 July 2025
10 Most Popular Bitcoin Mining Apps for Android & iOS in 2025 | Earn Crypto Fast

10 Most Popular Bitcoin Mining Apps for Android & iOS in 2025 | Earn Crypto Fast

24 May 2025
Crypto Leverage Under Fire: South Korea Set to Tighten Lending Rules

Crypto Leverage Under Fire: South Korea Set to Tighten Lending Rules

1 August 2025
A Ticking Time Bomb? US Senator Compares GENIUS Act to 2008 Financial Crisis

A Ticking Time Bomb? US Senator Compares GENIUS Act to 2008 Financial Crisis

1 August 2025
Bitcoin’s Next Big Surge? On-Chain Metrics Suggest a Price Shift Is Near

Bitcoin’s Next Big Surge? On-Chain Metrics Suggest a Price Shift Is Near

1 August 2025
Samourai Wallet founders plead guilty to unlicensed money transmission; DOJ drops laundering, conspiracy charges

Samourai Wallet founders plead guilty to unlicensed money transmission; DOJ drops laundering, conspiracy charges

1 August 2025
JPMorgan Chase Partners With Coinbase to Bring Crypto to Millions

JPMorgan Chase Partners With Coinbase to Bring Crypto to Millions

1 August 2025
JPMorgan Chase Partners With Coinbase to Bring Crypto to Millions

JPMorgan Chase Partners With Coinbase to Bring Crypto to Millions

1 August 2025
Facebook Twitter Instagram Youtube RSS
Coin Digest Daily

Stay ahead in the world of cryptocurrencies with Coin Digest Daily. Your daily dose of insightful news, market trends, and expert analyses. Empowering you to make informed decisions in the ever-evolving blockchain space.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Web3

SITEMAP

  • About us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Coin Digest Daily.
Coin Digest Daily is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • Metaverse
  • Web3
  • DeFi
  • Analysis
  • Scam Alert
  • Regulations

Copyright © 2024 Coin Digest Daily.
Coin Digest Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$115,517.00-2.37%
  • ethereumEthereum(ETH)$3,670.06-4.89%
  • rippleXRP(XRP)$2.95-6.05%
  • tetherTether(USDT)$1.000.00%
  • binancecoinBNB(BNB)$776.52-3.01%
  • solanaSolana(SOL)$168.95-6.51%
  • usd-coinUSDC(USDC)$1.000.00%
  • staked-etherLido Staked Ether(STETH)$3,665.23-4.89%
  • dogecoinDogecoin(DOGE)$0.205696-7.65%
  • tronTRON(TRX)$0.325284-0.32%