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Breaking News: BNB Reaches New All-Time High Of $956 As Binance Nears Deal With US DOJ

Bitcoin Cash Price Technical Analysis – BCH/USD to Break Higher? 2018-03-14

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Bitcoin Cash Price Technical Analysis BCH USD

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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Key Points

  • Bitcoin cash price is holding ground and is currently trading above the $1,040 support against the US Dollar.
  • The BCH/USD pair is currently attempting an upside break above a bearish trend line with resistance at $1,068 on the hourly chart (data feed from Kraken).
  • The pair may rise in the near term and it could break the $1,100 resistance.

Bitcoin cash price is showing positive signs above $1,040 against the US Dollar. BCH/USD may perhaps start a decent upside move above $1,100 or $1,140.

Bitcoin Cash Price Support

There was no major downside push below $1,000 in bitcoin cash price against the US Dollar. The price managed to hold the ground above the $1,000 level and it is currently trading above $1,040. The current price action is positive since the price is above the 23.6% Fib retracement level of the last drop from the $1,159 high to $992 low. It is also positioned above the $1,050 level, which is a positive sign.

At the moment, the BCH/USD pair is currently attempting an upside break above a bearish trend line with resistance at $1,068 on the hourly chart. Moreover, the 50% Fib retracement level of the last drop from the $1,159 high to $992 low is at $1,072. Therefore, if the price succeeds in breaking the $1,065-75 resistance area, there could be more gains. In the mentioned case, the price may break the $1,100 level and it could even test the $1,150 level.

Bitcoin Cash Price Technical Analysis BCH USD

On the downside, an initial support is at $1,050 and the 100 hourly simple moving average. There is also a bullish trend line on the same chart with support at $1,010, which is a decent buy zone.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is slowly moving into the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is now just above the 50 level.

Major Support Level – $1,020

Major Resistance Level – $1,075

 

Charts courtesy – Trading View

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

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From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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