• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis

Bitcoin Cash Price Analysis: BCH/USD Holding Key Support

Aayush Jindal by Aayush Jindal
3 years ago
in Technical analysis
Reading Time: 2min read
technical analysis bitcoin cash
Advertisement

Key Points

  • Bitcoin cash price is holding an important support near $800 against the US Dollar.
  • There is a contracting triangle forming with support near $805 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair has to move above the $830 and $840 resistances to gain traction in the near term.

Bitcoin cash price remains supported above $800 against the US Dollar. BCH/USD is about to make the next move either above $830 or below $800.

Bitcoin Cash Price Resistance

Yesterday, we saw a minor downward correction from the $890 high in bitcoin cash price against the US Dollar. The BCH/USD pair declined below the $850 and $840 support levels, and tested the $800 area. Buyers appeared near the $800 level and the 100 hourly simple moving average. The price moved a few points higher and traded above the 23.6% Fib retracement level of the last decline from the $890 high to $805 swing low.

However, the upside move was protected by the $840-850 resistance area. Moreover, the 50% Fib retracement level of the last decline from the $890 high to $805 swing low also acted as a resistance. The pair declined once again and retested the $805 support area and the 100 hourly SMA. At the moment, the price is consolidating above $800-805 and is preparing for the next move. It seems like there is a contracting triangle forming with support near $805 on the hourly chart of the BCH/USD pair.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Bitcoin Cash Price Analysis BCH USD

Looking at the chart, the price could make an upside move above the $830 resistance as long as it is above $800 and the 100 hourly SMA. On the flip side, a downside break below $800 may perhaps push the price back towards $750.

Looking at the technical indicators:

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

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

Major Support Level – $800

Major Resistance Level – $830

Tags: BCHBCHUSDBitcoin Cash AnalysisBitcoin Cash ChartBitcoin Cash ForecastBitcoin Cash PriceblockchaindaytradingOpiniontradingvirtual currency
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Ethereum

TA: Ethereum Struggles Above $1,600, Why 100 SMA Is The Key

1 hour ago
Bitcoin

TA: Bitcoin Turns Attractive Above $50K, Why BTC Could Rally To $55K

3 hours ago
bitcoin thin ice

Time To Be Careful: Why Traders Are Cautious On Bitcoin Right Now

10 hours ago
Polkadot (DOT)

Charted: Polkadot (DOT) Steadies Above $35, Why Bulls Aim $40 or Higher

23 hours ago
Ethereum

TA: Ethereum Lacks Momentum Above $1,550, Why Dips Likely To Be Limited

1 day ago
Bitcoin

TA: Bitcoin Holding Gains, Why BTC Could Surge Above $50K

1 day ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Silicon Valley-Based Taraxa Wants to Put Every Informal Transaction on the Record, Unveils Details About the Upcoming Public Sale

March 4, 2021

First-Ever Public Tron-based Smart Contract

March 3, 2021

ECOMI to List OMI Tokens with BitMax

March 3, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Buy Silver

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.