Bitcoin Cash Price Key Focuses

  • Bitcoin cash price is as of now solidifying over the $535 support against the US Dollar.
  • There is a key contracting triangle framed with resistance at $570 on the hourly outline of the BCH/USD pair.
  • The pair is probably going to make the following move either above $570 or underneath $550 in the close term.

Bitcoin cash price is getting ready for the following move against the US Dollar. BCH/USD could rally indeed if there is a break over the $570 resistance.

Bitcoin Cash Price Analysis

Recently, we saw a strong upward move over the $550 resistance in bitcoin cash price against the US Dollar. The BCH/USD pair exchanged towards the $600 level and framed a high at $589. Afterward, there was a minor drawback rectification and BCH price exchanged beneath $550. There was likewise a break underneath the 23.6% Lie retracement level of the last upside from the $473 low to $489 high.

On the drawback, the $535 level went about like a conventional support and counteracted encourage misfortunes. Besides, there was no break underneath the half Lie retracement level of the last upside from the $473 low to $489 high. Bitcoin cash price is as of now merging over the $535 support. All the more critically, there is a key contracting triangle framed with resistance at $570 on the hourly diagram of the BCH/USD pair. On the off chance that the pair breaks the triangle resistance at $570, it will undoubtedly return to the $589 high. Over the expressed high, BCH price could test the $600 level, which is a noteworthy hindrance. Then again, a drawback break beneath $550 may well drive BCH price towards the $535 support.

BCHUSD 3 day chart

Taking a gander at the outline, BCH price is getting ready for the following move and it will either break $570 or move beneath $550 in the close term.

Taking a gander at the technical markers:

Hourly MACD – The MACD for BCH/USD is going to move into the bullish zone.

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

Significant Support Level – $550

Significant Resistance Level – $570

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.

View Comments

Recent Posts

SEC says KIK Violated the Federal Securities Law

The U.S. Securities and Exchange Commission (SEC) is on the tail of Kik Interactive, a social media platform who sold…

1 day ago

Hong Kong Finally Suspends China Extradition Bill

Carrie Lam, Hong Kong's Chief Executive announced an indefinite suspension of a debate pertaining to a bill that will allow…

1 day ago

Following Binance, Bittrex closing Altcoins markets for US citizens

After Binance's announcement on June 14, 2019, that its U.S. customers will no longer be able to trade on Binance.com…

1 day ago

Litecoin Price Analysis, 15th June: Bulls Taking Charge

LTCUSD Dominant Trend: Bullish Resistance Levels: $150, $170, $190 Support Levels: $105, $85, $65   Litecoin Price Analysis Litecoin price…

2 days ago

Ethereum Price Analysis, 15th June: ETH Bulls Targeting $300

ETHUSD Dominant Trend: Bullish Resistance Levels: $280, $300, $320 Support Levels: $220, $200, $180 Ethereum Price Analysis Ethereum price has…

2 days ago

Bitcoin Price Analysis, 15th June: BTC to USD Still Bullish

Bitcoin is trading at $8,650, after an upward trend of 4.7% on Friday. Bitcoin and Ethereum are the only important…

2 days ago

This website uses cookies.