BCH Price Stalls at Momentum Inflection Point

BCH is facing a critical inflection point in its momentum, with price currently trading at $263.10 after a quiet 2.12% decline on the day.

Despite a 24-hour high of $274.10 being tagged earlier today, price has slipped back below the 7-day SMA sitting at $269.91, indicating that short-term momentum has rolled over.

The medium-term picture remains constructive, with BCH trading $28 above its 20-day SMA and nearly $38 clear of the 50-day SMA.

However, the 200-day SMA looms at $348.77, nearly 33% above current price, which suggests that this is not a bull market recovery story yet, but rather a counter-trend rally trying to find conviction.