Reason to trust

How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Key Points
- Bitcoin cash price is holding the $440 support and is trading with a positive bias against the US Dollar.
- There is a contracting triangle in place with support at $445 on the hourly chart of the BCH/USD pair (data feed from Kraken).
- The pair is likely to break to the upside towards the $460 and $472 resistance levels.
Bitcoin cash price is positioning for more gains against the US Dollar. BCH/USD must break $452 to gain momentum towards $460 and $472.
Bitcoin Cash Price Analysis
There was a slow and steady rise noted above the $440 level in bitcoin cash price against the US Dollar. The BCH/USD pair climbed above the $450 level and settled above the 100 hourly simple moving average. Moreover, there was a break above the 23.6% Fib retracement level of the recent decline from the $483 high to $436 low. However, the price failed to clear the $455-460 resistance zone.
There was no test of the 50% Fib retracement level of the recent decline from the $483 high to $436 low. At the outset, the price is consolidating above the $440 and $442 levels. There is also a contracting triangle in place with support at $445 on the hourly chart of the BCH/USD pair. The pair is likely to make the next move above the $452 resistance as long as it is above the 100 hourly SMA. On the upside, the price has to break the $459-460 resistance to accelerate gains towards the $472 level.
Looking at the chart, BCH price is positioned nicely above the $440 support and the 100 hourly SMA. If buyers remain in action, there are high chances of an upside break above $452 and $460 in the near term.
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 above the 50 level with a tiny bearish angle.
Major Support Level – $440
Major Resistance Level – $460