in , , , , , , ,

BCH still bullish. Bitcoin Cash Price Analysis 9 Oct

Bitcoin cash price is combining above $520 against the US Dollar. BCH/USD could quicken higher once purchasers clear the $530 resistance zone.
Bitcoin cash price is combining above $520 against the US Dollar. BCH/USD could quicken higher once purchasers clear the $530 resistance zone.

Bitcoin Cash Price Key Focuses

  • Bitcoin cash price is exchanging with a positive structure over the $510 support against the US Dollar.
  • There is a rising divert set up with support at $520 on the hourly diagram of the BCH/USD pair (information feed from Kraken).
  • The pair is probably going to move higher over the $530 and $540 resistance levels in the close term.

Bitcoin cash price is combining above $520 against the US Dollar. BCH/USD could quicken higher once purchasers clear the $530 resistance zone.

 

Bitcoin Cash Price Analysis

Recently, we saw an OK upside move from the $500 support region in bitcoin cash price against the US Dollar. The BCH/USD pair exchanged over the $520 level and settled over the 100 hourly straightforward moving normal. Afterward, it picked up footing and spiked over the $530 resistance, however it neglected to hold gains. An intraday high was shaped at $531.6 and the price began a drawback redress.

It moved underneath the 23.6% Lie retracement level of the ongoing wave from the $498 low to $531 high. Be that as it may, there are numerous supports on the drawback close to the $515 and $510 levels. There is likewise a climbing direct set up with support at $520 on the hourly outline of the BCH/USD pair. Beneath the channel support, the 100 hourly SMA is situated close to the $513 level. Besides, the half Lie retracement level of the ongoing wave from the $498 low to $531 high is at $515. Thusly, if the pair decreases for the time being, it is probably going to discover support close to the $520 and $515 levels.

 

BCHUSD Price Chart 9 October
BCHUSD Price Chart 9 October

 

Taking a gander at the graph, Bitcoin Cash price is situated pleasantly for more increases above $530. There could be a drawback remedy, however at some point or another, the price may test $550.

 

Taking a gander at the specialized pointers:

Hourly MACD – The MACD for BCH/USD is gradually moving in the bearish zone.

Hourly RSI (Relative Quality Index) – The RSI for BCH/USD is right now close to the 50 level.

Real Support Level – $515

Real Resistance Level – $530

Avatar

Written by Janet F. Sanchez

Janet Sanchez writes articles which, considering where you’re reading this, makes perfect sense. She is best known for writing cryptocurrency related news and blogs. She also writes about business, finance, and technology. Working from home and taking care of her little son, she has a passion for writing.

Comments

Leave a Reply

    3 Pings & Trackbacks

    1. Pingback:

    2. Pingback:

    3. Pingback:

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    Loading…

    0

    Comments

    0 comments

    Rumor has it that Alibaba is partnering with TRON to launch a cryptocurrency exchange that will be based on the Tron (TRX) itself.

    Rumor: Alibaba will build a Crypto Exchange on TRON: TRX to rally?

    Will ETH rise or fall? Ethereum Price Analysis 9 Oct