Bitcoin Cash Price Analysis: BCH/USD Could Retest $860

Key Points

  • Bitcoin cash price is trading with a positive bias above the $800 support against the US Dollar.
  • There is a major bearish trend line in place with resistance near $830 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair has to break the $830 resistance to climb higher towards the $860 resistance.

Bitcoin cash price is likely to trade higher above $840 against the US Dollar. BCH/USD may perhaps test $860, which is a key resistance for buyers.

Bitcoin Cash Price Resistance

There was a solid support formed near the $780 level in bitcoin cash price against the US Dollar. The BCH/USD pair started an upward move and traded above the $800 resistance. Buyers were successful in pushing the price above the 50% Fib retracement level of the last decline from the $863 high to $778 swing low. It opened the doors for more gains and the price settled above $820 and the 100 hourly simple moving average.

However, the price was not able to close above the 61.8% Fib retracement level of the last decline from the $863 high to $778 swing low. Moreover, a major bearish trend line with resistance near $830 is acting as a hurdle on the hourly chart of the BCH/USD pair. The pair is currently trading near the trend line and $830 resistance. Should there be a break above the $830 resistance, the price will most likely climb above the $840 level. On the upside, the next target for buyers could be near the last swing high at $860.

Looking at the chart, the price is placed in a positive zone above $820 and the 100 SMA. Below this, the price could revisit the $800 support area in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is mostly flat in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently near the 50 level.

Major Support Level – $800

Major Resistance Level – $830

Author: Aayush Jindal

Source link

Related posts

20 Thoughts to “Bitcoin Cash Price Analysis: BCH/USD Could Retest $860”

  1. Rueben Deley

    As soon as I observed this web site I went on reddit to share some of the love with them.

  2. Football Solutions Juanma Ortiz

    Crystal Palace wonderkid Jonny Williams will miss up to three months with severely damaged ankle ligaments. Crystal Palace’s Williams set to miss three months after suffering ankle injury whilst on international duty with Wales

  3. Juve and Roma win to maintain status quo

    Sir Alex Ferguson admitted he turned down the chance to sign Petr Cech when the keeper was a teenager. Here, Sportsmail looks at the ones that got away from the Manchester United boss. Gazza, Shearer and Ronaldinho – the ones that got away from United boss Ferguson

  4. Central london harley street Psychotherapist

    Awesome blog article.Much thanks again. Really Great.

  5. gamefly free trial

    You actually make it seem really easy together with your presentation but
    I find this matter to be actually one thing which I think I would by no means understand.
    It sort of feels too complicated and extremely
    huge for me. I’m looking ahead to your subsequent submit, I’ll attempt to get the grasp of it!

  6. minecraft download

    Appreciation to my father who told me on the topic of this blog, this webpage is in fact remarkable.

  7. g

    When I initially left a comment I appear to have clicked
    the -Notify me when new comments are added- checkbox and now every time a comment is added I receive 4 emails with the exact same comment.
    Perhaps there is a means you are able to remove me from
    that service? Many thanks!

  8. Marcia Stimson

    Good post. Do you have any other ones you can put? I dig it. 🙂

  9. transform business model

    … [Trackback]

    […] Info on that Topic: […]

  10. Guns For Sale Online

    … [Trackback]

    […] Read More on that Topic: […]

  11. Vanessa Getty wikipedia

    … [Trackback]

    […] Find More on on that Topic: […]

  12. Esport

    … [Trackback]

    […] Find More on on that Topic: […]

  13. DevOps Solutions

    … [Trackback]

    […] There you will find 68290 additional Info to that Topic: […]

  14. buy dmt online usa shopping

    … [Trackback]

    […] Find More Information here on that Topic: […]

  15. เงินด่วนออนไลน์ โอนเข้าบัญชี

    … [Trackback]

    […] Find More Info here on that Topic: […]

  16. anti screenshot

    … [Trackback]

    […] Read More here on that Topic: […]

  17. glock prices​

    … [Trackback]

    […] Info on that Topic: […]

  18. sbobet

    … [Trackback]

    […] Find More on that Topic: […]

  19. LSD stamps Online

    … [Trackback]

    […] Find More here to that Topic: […]

Leave a Comment