Earn Your First Bitcoin Sign up and get Bonus Referral bonus up to ,000 Sign up Bitcoin cash is attempting a recovery wave above the 2 resistance against the US Dollar. The price is now trading above the 4 zone and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near 6 on the 4-hour chart of the BCH/USD pair (data feed from Coinbase). The pair must clear 6 and 8 to start a steady upward movement in the near term. Bitcoin cash price is rising above 4 against the US Dollar, similar to Bitcoin. BCH/USD could start a fresh surge if it clears the 8 level. Bitcoin Cash Price Analysis Bitcoin cash price formed a decent
Topics:
Aayush Jindal considers the following as important: Altcoin News, bch, Bitcoin Cash, News, Trading
This could be interesting, too:
Godfrey Benjamin writes Worldcoin Asserts Legality in Operating Countries amid Spanish Ban
Steve Muchoki writes Chiliz (CHZ) Signs Strategic Partnership with Unagi and LFP to Launch Coach Ligue 1 Fantasy Football Game
Chimamanda U. Martha writes Iconic Photo of Dogwifhat Meme Coin Nets .3M in NFT Auction
Godfrey Benjamin writes Standard Chartered Raises Its BTC and ETH Forecasts, Bitcoin Can Reach 0K in 2025
Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000
Sign up- Bitcoin cash is attempting a recovery wave above the $112 resistance against the US Dollar.
- The price is now trading above the $114 zone and the 55 simple moving average (4 hours).
- There is a key bearish trend line forming with resistance near $116 on the 4-hour chart of the BCH/USD pair (data feed from Coinbase).
- The pair must clear $116 and $118 to start a steady upward movement in the near term.
Bitcoin cash price is rising above $114 against the US Dollar, similar to Bitcoin. BCH/USD could start a fresh surge if it clears the $118 level.
Bitcoin Cash Price Analysis
Bitcoin cash price formed a decent support base above the $110 level. BCH started a decent increase and was able to clear the $112 resistance zone.
The price climbed above the $114 resistance level. There was a move above the 50% Fib retracement level of the downward move from the $117.30 swing high to the $111.60 low. It is now trading above the $114 zone and the 55 simple moving average (4 hours).
On the upside, the price is facing resistance near the $116 level. There is also a key bearish trend line forming with resistance near $116 on the 4-hour chart of the BCH/USD pair.
The trend line is near the 76.4% Fib retracement level of the downward move from the $117.30 swing high to the $111.60 low. The next major resistance is near the $118 level, above which the price may perhaps rise toward the $120 level. Any more gains above $120 could set the pace for a move toward the $126 level.
If not, the price might decline again. Immediate support on the downside is near the $113 level. The first major support sits near the $112 level. The next major support is near $110, below which the bears might aim for $102. The next target for them may perhaps be near the $100 level.
Looking at the chart, Bitcoin Cash’s price is now trading above the $114 zone and the 55 simple moving average (4 hours). Overall, the price must clear $116 and $118 to continue higher in the near term.
Technical indicators
4 hours MACD – The MACD for BCH/USD is gaining pace in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for BCH/USD is above the 50 level.
Key Support Levels – $113 and $110.
Key Resistance Levels – $116 and $118.