Bitcoin cash is eyeing a fresh increase above the 0 resistance against the US Dollar. The price is now trading above the 0 zone and the 55 simple moving average (4 hours). There was a break above a key bearish trend line with resistance at 5 on the 4-hour chart of the BCH/USD pair (data feed from Coinbase). The pair must clear 5 and 0 to start a fresh increase in the near term. Bitcoin cash price is consolidating gains above 0 against the US Dollar, like Bitcoin. BCH/USD could start a fresh surge if it clears the 5 level. Bitcoin Cash Price Analysis Bitcoin cash price started a pullback from the 0 zone. BCH traded below the 0 and 0 support levels before the bulls appeared. A low was formed near 0 before the price started a
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- Bitcoin cash is eyeing a fresh increase above the $450 resistance against the US Dollar.
- The price is now trading above the $400 zone and the 55 simple moving average (4 hours).
- There was a break above a key bearish trend line with resistance at $425 on the 4-hour chart of the BCH/USD pair (data feed from Coinbase).
- The pair must clear $435 and $450 to start a fresh increase in the near term.
Bitcoin cash price is consolidating gains above $400 against the US Dollar, like Bitcoin. BCH/USD could start a fresh surge if it clears the $435 level.
Bitcoin Cash Price Analysis
Bitcoin cash price started a pullback from the $530 zone. BCH traded below the $480 and $450 support levels before the bulls appeared.
A low was formed near $340 before the price started a decent upward move. There was a move above the $380 and $400 resistance levels. The price climbed above the 23.6% Fib retracement level of the downward move from the $530 swing high to the $341 low.
There was a break above a key bearish trend line with resistance at $425 on the 4-hour chart of the BCH/USD pair. Bitcoin cash is now trading above the $400 zone and the 55 simple moving average (4 hours).
On the upside, the price is facing resistance near the $435 level or the 50% Fib retracement level of the downward move from the $530 swing high to the $341 low. The first key resistance is near $450. The next major resistance is near $485, above which the price may perhaps gain bullish momentum.
The next major resistance is near the $530 level. Any more gains above $530 could set the pace for a move toward the $550 level or even $565. If not, the price might start another decline.
Immediate support on the downside is near the $400 level. The first major support sits near the $380 level. The next major support is near $340 below which the bears might aim for $320.
Looking at the chart, Bitcoin Cash’s price is now trading above the $400 zone and the 55 simple moving average (4 hours). Overall, the price must clear $435 and $450 to start a fresh increase 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 – $400 and $380.
Key Resistance Levels – $435 and $450.