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BCH/USD Long-term Trend – Ranging
Distribution territories: $675, $775, $875.
Accumulation territories: $375, $275, $175.
BCH/USD continues to experience a very tight price ranging movements a bit above the lower range line at $400 territory this week. The last time that the crypto made a strong spike was on September 26 but also eventually dropped in value significantly on October 11, and that has led to the current low price point in the market.
In about a handful number of days, the crypto has neither been notably pushed by bears nor bulls. P-rice has only been fluctuating below the two SMAs’ trend-lines within $600 and $400 price range-bound zones until now. The 14-day SMA has intercepted the 50-day SMA from top to be under the latter with a small space. The Stochastic Oscillators have briefly touched range 20 to point south. That shows that the market may still need to experience a degree of price decline furthermore for a while.
Every indicator is showing that this crypto may continue to experience its market value ranging within the well-defined range in the next trading days or weeks to come. A probable reversal against the $400 price territory of the lower range or of the average value of the range-bound zone at $500 territory could result to a bullish market resumption of this crypto.
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