• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
technical analysis bitcoin cash
Sensei Inu Logo

Bitcoin Cash Price Analysis: BCH/USD Struggling Below $760

Aayush Jindal by Aayush Jindal
5 years ago
in Technical analysis
Reading Time: 2 mins read

Key Points

  • Bitcoin cash price failed to remain above the $760 support and declined against the US Dollar.
  • There was a break below a key bullish trend line with support at $748 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair is currently holding the $720 support, but it may struggle to gain upside momentum.

Bitcoin cash price declined below $760 against the US Dollar. BCH/USD must stay above the $720 support to avoid more declines in the near term.

Bitcoin Cash Price Decline

There were a couple of rejections noted around the $760-770 zone in bitcoin cash price against the US Dollar. The BCH/USD pair started a downside move and declined below the $750 support. There was even a close below the $750 pivot level and the 100 hourly simple moving average. These are negative signs and suggests that the price is struggling to move above $770.

During the decline, there was a break below a key bullish trend line with support at $748 on the hourly chart of the BCH/USD pair. The pair traded close to the $720 support and is currently trading in a range. It recently tested the 23.6% Fib retracement level of the last drop from the $810 high to $716 low. However, there is a strong resistance forming near the $750 level. Moreover, a bearish trend line is in place with resistance at $750. Therefore, a break above $750 is needed for a recovery in BCH.

Looking at the chart, the price must stay above the $720 support. If not, there is a risk of more declines towards the $700 level in the near term. On the upside, above $750, the next hurdle is at $770 and the 100 hourly SMA.

Looking at the technical indicators:

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

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

Major Support Level – $720

Major Resistance Level – $750

Tags: BCHBCHUSDBitcoin Cash AnalysisBitcoin Cash ChartBitcoin Cash ForecastBitcoin Cash PriceblockchaindaytradingOpiniontradingvirtual currency
Tweet123Share196ShareSend
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies, and Financial Market Strategist. He specializes in market strategies and technical analysis and has spent over 15 years as a financial markets contributor and observer. He also founded an IT company and works rigorously in providing high-quality software services. Aayush possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin, and Ethereum markets. Follow him on Twitter @AayushJs.

Related Posts

XRP

Crypto CEO Very Bullish On XRP Price, Sets Make Or Break Point

18 hours ago
Chainlink LINK price

LINK Price Primed For Meteoric Rise: Analyst Predicts 130% Rally To $18

1 day ago
MATIC

MATIC Price Downtrend Halted As Google Cloud Joins Polygon Network

2 days ago
MATIC price whales

MATIC Price Rally Threatened As Whales Deposit Millions Of Tokens To Exchanges

2 days ago
MakerDAO

MakerDAO Secures $6 Billion For Treasury Bill Investments As MKR Dominates 2023

2 days ago
XRP price

Important Events That Could Have A Massive Impact On XRP Price

2 days ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Investing in Trading 212: Is the Risk Worth the Reward?

    23 hours ago
  • Bitcoin Spark: Cross-Chain with Polygon, BSC, and Cosmos

    2 days ago
  • Explosive Surge: Curve DAO and Everlodge on a Wild Pumping...

    2 days ago
  • The DeFi Big Three: Solana (SOL), Chainlink (LINK), and...

    2 days ago
  • Plus 500 Reviews Get Moderate Risk Rating From Trading...

    2 days ago

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.

Cryptocurrency news

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

Technical Analysis

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

Company

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

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 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.