BCH/USDT:USDT
Bitcoin Cash (BCH) is showing signs of a 'selling climax' and technical exhaustion. The price has dropped over 11% in 24 hours, pushing the RSI into deep oversold territory (23.7). The positive MACD histogram (0.28) relative to price action suggests a momentum divergence. While funding remains slightly positive on OKX, the stabilization of Open Interest (+0.37% 1h) indicates that the aggressive selling is being absorbed by limit buyers at these levels.
Detailed Analysis
Price -11.16% with RSI at 23.7 and MACD histogram showing positive recovery signal.
Sellers are exhausted and the downward momentum is no longer supported by technical indicators.
Technical bounce toward the $500 resistance level as shorts take profit.
Break below $475 with a sharp spike in negative funding.