Bitcoin Cash Price Analysis: BCH/USD Could Recover To $500

Key Points

Bitcoin currency toll is holding the $460 subscribe very well against the U s dollars. Yesterday’s highlighted key bearish trend line is still active with resistance near $475 on the hourly chart of the BCH/ USD pair( data feed from Kraken ). The pair could move higher in the short term towards the $495 and $500 resist status.

Bitcoin cash price is selling above the most recent low-key against the U s dollars. BCH/ USD is likely to recover a few points towards $500 in the near term.

Bitcoin Cash Price Support

Yesterday, there was a minor convalescence kick-started from the $460 approval in bitcoin currency price against the US Dollar. The BCH/ USD duet moved above the $475 and $480 grades. Nonetheless, the upside move was covered by the $490 resistance zone. Moreover, the expenditure also failed to break the 50% Fib retracement elevation of the last slip from the $525 high-pitched to $460 swing low.

Later, the premium declined back towards the $460 substantiate area where purchasers reemerged. There was a fresh upward move from the $459 low-toned and the price clambered above $470. The toll likewise succeeded in clearing the 23.6% Fib retracement position of the most recent throw deteriorate from the $492 high to $459 low-spirited. Nonetheless, the price is currently struggling to clear the $475 fighting. Additionally, yesterday’s spotlit key bearish trend line is still active with resistance near $475 on the hourly map of the BCH/ USD duet. It seems like the rate may clear the $475 and $480 resistance ranks to climb further in the very near term.

Bitcoin Cash Price Analysis BCH USD

Looking at the chart, BCH price could move a few parts higher, but it is likely to face a strong exchanging engage near the $490 and $500 resistance grades. On the downside, a divulge below $460 may propagandize the premium towards $450.

Looking at the technological benchmarks 😛 TAGEND

Hourly MACD- The MACD for BCH/ USD is somewhat placed in the buoyant zone.

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

Major Support Level- $460

Major Resistance Level- $500

The post Bitcoin Cash Price Analysis: BCH/ USD Could Recover To $500 emerged first on NewsBTC.

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