Bitcoin cash price analysis: Bullish momentum bounces back after surpassing $709 hurdle

TL;DR Breakdown The Bitcoin cash price analysis shows a rise in price.Coin value is increasing and has reached $710. Resistance at $729.13 level to be touched soon. The Bitcoin cash price analysis is indicating a rise in the price today, as the bulls are gearing up to reach above the current resistance. The past few hours have seen a bearish slope, which had interrupted the ongoing bullish wave. Yet, the bulls have regained strength today, as the price levels are climbing past $709.95. If more buyers contribute to the bullish recovery, then there is a chance that the resistance at $729.13 will be crossed. BCH/USD 1-day price chart: Price to travel downwards as crossover results in bearish sign The 1-day cryptocurrency analysis is indicating a decline in price today, as the coin value has lowered to $710.02 of value. Although the past few days had seen significant improvement in the price levels, today’s trend is still going in support of the bears. The momentum has not been strong enough to push the price below the moving average (MA) value i.e. $661.82. Moreover, Bitcoin Cash price analysis suggests that the volatility seems to be increasing, further negative indications can be drawn for the future. BCH/USD 1-day price chart. Source: TradingView The Bollinger bands stand important in predicting the ongoing market trends, and their upper value has reached $712.3 and the lower value has reached $605.42 today. The Relati...