Recently, there was a minoruptrendcorrectionhigher thanthe $450 USD level in Bitcoin Cash [BCH]priceagainst USD. The BCH/USD pair for today tradedhigher thanthe $450 USD level. Moreover, there wasa smallupward movehigher thanthe27% Fib retracement level of the downward move from the $520 USD high to $430 USD low. However,the expected price for todaydidn’tgained pacehigher thanthe $460 USD and $480 USD levels.
There’sadditionallya connectingpessimisticlinein situwith resistance at $465 USD on the hourly chart of the BCH/USDpair. Thepair is howevercommercialismwell below the $460 USD resistancealong witha hundredhourly SMA,thatcould be apessimisticsign. On thedowntrend,the Bitcoin Cash [BCH]remains at a risk ofsupportbelow $450 USD and $460 USD. Below these,the pricemight perhapstestthe $450 USD handle.
- Bitcoin Cash [BCH] price has recoveredhigher thanthe $450 USD resistance mark against USD.
- There was a connectingpessimisticlinein situwith resistance at $445 USD on the hourly chart of the BCH/USD pair, which for now seem to have recovered.
- TheBCH/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 Cashlooksto betradingduring avaryrange higher than$450 USD.The next breakis expectedeitherhigher than$460 USD or below $450 USDwithin thenearterm. Above $460 USD,the pricemay perhaps correct towards the $470 USD level. It representsthe 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 the42level.
- MajorPrice– $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.