Bitcoin Diamond Faces Consolidation After Hitting $1 Mark

Bitcoin Diamond (BCD) has reflected a slow yet steady improvement after the massive crash of March. If we look at the weekly price movement of BCD/USD, the coin marked moderate movement. As per the current price trend, the coming period is speculated to be profitable.

Bitcoin Diamond Price Analysis

Starting from July 18, the BCD was trading around $0.864 with a hefty volatile movement. On July 20, 2020, the currency faced massive escalation, and the price touched $1.1 mark. However, the Bitcoin Diamond couldn’t manage to stay at this high & fell to $0.950 and hovered around the same level till today. The recent market pressure took the BCD price to $0.909.

Today, the currency faced bearish pressure as most of the time, it was trading below $0.90, but at the press time, the coin managed to cross $0.90 mark. The chances of improving towards the immediate resistance level at $0.933 are relatively higher than breaching its next support.

The MACD of Bitcoin Diamond is reflecting towards bullish momentum as the signal and MACD line is indicating bullish crossover. The daily moving averages are supporting the current price at $0.909. The averages are also forming bullish crossover. The indications by the technicals are positive. The upcoming period for the coin might bring improvement.

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