Recently, there was a minor uptrend correction higher than the $450 USD level in Bitcoin Cash [BCH] price against USD. The BCH/USD pair for today traded higher than the $450 USD level. Moreover, there was a small upward move higher than the 27% Fib retracement level of the downward move from the $520 USD high to $430 USD low. However, the expected price for today didn’t gained pace higher than the $460 USD and $480 USD levels.
There’s additionally a connecting pessimistic line in situ with resistance at $465 USD on the hourly chart of the BCH/USD pair. The pair is however commercialism well below the $460 USD resistance along with a hundred hourly SMA, that could be a pessimistic sign. On the downtrend, the Bitcoin Cash [BCH] remains at a risk of support below $450 USD and $460 USD. Below these, the price might perhaps test the $450 USD handle.
- Bitcoin Cash [BCH] price has recovered higher than the $450 USD resistance mark against USD.
- There was a connecting pessimistic line in situ with resistance at $445 USD on the hourly chart of the BCH/USD pair, which for now seem to have recovered.
- The BCH/USD pair is above $450 USD, if this trend continues, the next point of recovery for this month is expected to be around $600 USD.
Looking at the chart, the price of Bitcoin Cash looks to be trading during a vary range higher than $450 USD. The next break is expected either higher than $460 USD or below $450 USD within the near term. Above $460 USD, the price may perhaps correct towards the $470 USD level. It represents the 500% Fib retracement level of the downward move from the $570 USD high to $450 USD low.
Bitcoin Cash [BCH] Examination
- Hourly MACD – The MACD for BCH/USD pair is slowly recovering the bearish zone.
- Hourly RSI– The RSI for the pair is well below the 42 level.
- Major Price – $465 USD
- Major Resistance Level – $450 USD
At the reporting time, Bitcoin Cash [BCH] price is trading at $459.06 USD, which is 3.04% higher than yesterday.