Bitcoin cash is eyeing a fresh increase above the 0 resistance against the US Dollar. The price is now trading near the 0 zone and the 55 simple moving average (4 hours). There is a key bullish trend line forming with support at 7 on the 4-hour chart of the BCH/USD pair (data feed from Coinbase). The pair must clear 0 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 0 level. Bitcoin Cash Price Analysis Bitcoin cash price started a pullback from the 0 zone. BCH traded below the 5 and 0 support levels to enter a short-term bearish zone. A low was formed near 0 before the price started a fresh
Topics:
Aayush Jindal considers the following as important: Altcoin News, bch, Bitcoin Cash, News, Trading
This could be interesting, too:
Bilal Hassan writes Morocco to Become First Developing Country with Clear Crypto Regulations
Bilal Hassan writes Cryptopia Liquidators Distribute 0 Million to Victims of 2019 Hack
Bilal Hassan writes Mo Shaikh Steps Down as CEO of Aptos Labs to Start New Chapter
Bilal Hassan writes FTX Announces January 2025 as Effective Date for Reorganization Plan
- Bitcoin cash is eyeing a fresh increase above the $450 resistance against the US Dollar.
- The price is now trading near the $420 zone and the 55 simple moving average (4 hours).
- There is a key bullish trend line forming with support at $417 on the 4-hour chart of the BCH/USD pair (data feed from Coinbase).
- The pair must clear $440 and $450 to start a fresh increase in the near term.
Bitcoin cash price is consolidating gains above $410 against the US Dollar, like Bitcoin. BCH/USD could start a fresh surge if it clears the $450 level.
Bitcoin Cash Price Analysis
Bitcoin cash price started a pullback from the $530 zone. BCH traded below the $465 and $450 support levels to enter a short-term bearish zone.
A low was formed near $340 before the price started a fresh increase. There was a move above the $385 and $400 resistance levels. The price broke the 23.6% Fib retracement level of the downward move from the $530 swing high to the $340 low.
Bitcoin cash is now trading near the $420 zone and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support at $417 on the 4-hour chart of the BCH/USD pair.
On the upside, the price is facing resistance near the $440 level. The first key resistance is near $450 or the 50% Fib retracement level of the downward move from the $530 swing high to the $340 low. The next major resistance is near $455, above which the price may perhaps gain bullish momentum.
The next major resistance is near the $500 level. Any more gains above $500 could set the pace for a move toward the $520 level or even $530. If not, the price might start another decline.
Immediate support on the downside is near the $417 level. The first major support sits near the $400 level. The next major support is near $380 below which the bears might aim for $340.
Looking at the chart, Bitcoin Cash’s price is now trading near the $420 zone and the 55 simple moving average (4 hours). Overall, the price must clear $440 and $450 to start a fresh increase in the near term.
Technical indicators
4 hours MACD – The MACD for BCH/USD is losing pace in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for BCH/USD is below the 50 level.
Key Support Levels – $417 and $400.
Key Resistance Levels – $440 and $450.