• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Bitcoin Cash Price Technical Analysis BCH USD
Nexo Logo

Bitcoin Cash Price Technical Analysis – Can BCH/USD Break This?

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

Key Points

  • Bitcoin cash price remains below the $310 level, but currently attempting an upside break against the US Dollar.
  • This week’s highlighted major descending channel pattern with current resistance at $302 on the hourly chart of BCH/USD (data feed from Kraken) is currently put to test.
  • The price may break above the channel resistance at $302 and continue to move higher.

Bitcoin cash price is slowly recovering from $290 against the US Dollar. BCH/USD has to clear $302-305 levels to gain bullish momentum.

Bitcoin Cash Price Upside Break Near?

This week we followed a declining pattern in Bitcoin cash price towards $280 against the US Dollar. The price traded lower and finally it seems like a support is forming near $290. The price attempted a downside break below $290 on a couple of occasions, but failed. As a result, the price is currently moving higher and challenging a major resistance area.

Currently, this week’s highlighted major descending channel pattern with current resistance at $302 on the hourly chart of BCH/USD is put to test. The channel resistance at $302-303 is also around the 100 hourly simple moving average. Moreover, the 23.6% Fib retracement level of the last decline from the $355.00 high to $290.90 low is also near the channel resistance. If the price manages to settle above the channel resistance at $303 and the 100 hourly SMA, there can be more gains.

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

Bitcoin Cash Price Technical Analysis BCH USD

The next major stop could be the 50% Fib retracement level of the last decline from the $355.00 high to $290.90 low at $323. On the downside, the $290 support may continue to provide support in the near term.

Looking at the technical indicators:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Hourly MACD – The MACD for BCH/USD is moving higher in the bullish zone, but lacks momentum.

Hourly RSI (Relative Strength Index) – The RSI is currently just above the 50 level.

Major Support Level – $290

Major Resistance Level – $303

 

Charts courtesy – Trading View, Kraken

Tags: BCHBCHUSDBitcoin Cash AnalysisBitcoin Cash ChartBitcoin Cash ForecastBitcoin Cash PriceblockchaindaytradingOpiniontradingvirtual currency
Tweet123Share196ShareSend
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 Turns Red, Why ETH Must Hold This Key Support

14 hours ago
Bitcoin

TA: Bitcoin Dips Further, Why BTC Could Revisit $20K

15 hours ago
bitcoin bollinger bands

Bitcoin Monthly Tags Lower Bollinger Band, Tool’s Creator Hints At Bottom

21 hours ago
Ethereum

TA: Ethereum Bulls In Control, Why ETH Could Clear $1,300

2 days ago
Bitcoin

TA: Bitcoin Dips Could Be Limited, Why 100 SMA Is The Key

2 days ago
bitcoin google

Is Bitcoin Like Buying Google Early? Check Out The Shocking Comparison

4 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

When Marketplaces Meet Predictions: The Curious Case Of Fair Prediction Launches

June 28, 2022

Globiance Goes Live on CoinMarketCap And 6 Exchanges (CEX)

June 28, 2022

Why is Klein Finance so important to KCC (KuCoin Community Chain)?

June 28, 2022

LBank Exchange Will List SENSO on June 28, 2022

June 28, 2022

LBank Exchange Will List LOOT on June 29, 2022

June 28, 2022

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

Crypto Prices from Nomics

Cryptocurrency news

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

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 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.