Home / Bitcoin Price Predictions / Bitcoin Cash Price Technical Analysis – BCH/USD Facing Crucial Resistance
Bitcoin Cash Price Technical Analysis – BCH/USD Facing Crucial Resistance

Bitcoin Cash Price Technical Analysis – BCH/USD Facing Crucial Resistance

Key Points

  • Bitcoin cash price tried an upside switch above $1400 in direction of the US Dollar nevertheless failed to appreciate momentum.
  • This week’s highlighted essential bearish sample line with resistance at $1300 is unbroken on the hourly chart of BCH/USD (data feed from Kraken).
  • The price has to maneuver above $1300 and $1400 to appreciate upside momentum throughout the near time interval.

Bitcoin cash price is struggling to appreciate momentum above $1300 in direction of the US Dollar. BCH/USD might purchase tempo if it closes above $1400.

Bitcoin Cash Price Upside Hurdle

Recently, there was a decent attempt by bitcoin cash price above the $1300 diploma in direction of the US Dollar. However, the value failed to appreciate momentum above $1400 and declined as soon as extra. There was an attempt to interrupt this week’s highlighted essential bearish sample line with current resistance at $1300 on the hourly chart of BCH/USD. The talked about attempt failed since there was no break of the $1400 diploma.

The pair moved down and traded underneath the 38.2% Fib retracement diploma of the ultimate wave from the $1000 swing low to $1533 extreme. It seems to be like the value is struggling to appreciate tempo above $1300 and the sample line resistance. An in depth above $1300, adopted by $1400 is required for further gains. On the draw again, the $1200 help and the 61.8% Fib retracement diploma of the ultimate wave from the $1000 swing low to $1533 extreme are respectable buy zones.

A break of the $1200 diploma would possibly ignite a draw again wave in direction of the $1050 diploma. If there are extra declines, then $1000 could also be examined. On the upside, an in depth above $1400 would take the value in direction of the $1650 diploma.

Looking on the technical indicators:

Hourly MACD – The MACD for BCH/USD is normally flat throughout the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is for the time being properly underneath the 50 diploma.

Major Support Level – $1200

Major Resistance Level – $1400

 

Charts courtesy – Trading View, Kraken

Disclaimer: The information contained herein is simply not assured, does not purport to be full and is strictly for information capabilities solely. It should not be thought of funding/shopping for and promoting advice. All the information is believed to return from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and attributable to this reality will not be answerable for any loss incurred.

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Bitcoin Cash Price Technical Analysis – BCH/USD Facing Crucial Resistance

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Bitcoin Cash Price Technical Analysis – BCH/USD Facing Crucial Resistance

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