Bitcoin Cash, Monero, Cosmos: Price Analysis – AMBCrypto English

May 29, 2020 By admin

Following a brief foray under the $9000-mark, Bitcoin, the market’s premier cryptocurrency, was trading back under the $9,500, with the king coin consolidating its position before attempting to cross the $10k mark again. And while it did so, altcoins thanks to their high correlation indices, were quick to profit, with many including alts like Monero and Cosmos and the fork Bitcoin Cash posting significant gains.

Bitcoin Cash [BCH]

Source: BCH/USD on TradingView

The popular fork coin Bitcoin Cash is one of the market’s few altcoins to not have recovered its losses from Black Thursday yet. Thanks to the sideways movement that has persisted since mid-April, BCH has been unable to register any significant uptrends on its chart. However, its charts have been punctuated by brief hikes, with the latest one just another example of the same. Over the past 7 days, BCH was recorded to have climbed by over 6%, with the value of BCH observed to be $236.48.

Market indicators such as the Parabolic SAR suggested that despite the latest price hike, the market was bearish, with its dotted markers found to be above the price candles. Further, the Relative Strength Index continued to mediate between the overbought and oversold zones.

While apart from a recent upgrade, there aren’t a lot of Bitcoin Cash developments to speak of, BCH was in the news a few days ago after a popular analyst, citing the significant drop in hash rate, expressed his surprise at BCH not having been