Bitcoin Cash Price Analysis: BCH/USD under pressure, 12 Sep.

10 months ago

Bitcoin Cash Price Key Focuses

  • Bitcoin cash price declined further and broke the $460 and $450 support levels against the US Dollar.
  • The current week’s taken after major bearish pattern line is still set up with resistance close $460 on the hourly outline of the BCH/USD pair (information feed from Kraken).
  • The pair stays in a downtrend and it appears as though it could keep on moving down towards $400.

Bitcoin cash price is experiencing tension as it broke the $450 support against the US Dollar. BCH/USD is probably going to broaden misfortunes towards $410 and $400 in the close term.

Bitcoin Cash Price Resistance

As of late, there was a minor upside redress above $480 in bitcoin cash price against the US Dollar. The BCH/USD pair exchanged towards the $490 level where venders rose. Accordingly, there was a bearish response and bitcoin cash price declined beneath the $470 and $460 support levels. The decay was with the end goal that BCH price even broke the $450 support level and is as of now exchanging great beneath the 100 hourly straightforward moving normal.

A new month to month low was framed at $425 before bitcoin cash price began a minor range design. It tried the 23.6% Lie retracement level of the ongoing decrease from the $476 high to $425 low. BCH  price flopped close to the $440-445 zone and it is as of now moving south. On the upside, there are numerous resistances close to the $450 and $460 levels. All the more significantly, the current week’s taken after major bearish pattern line is still set up with resistance close $460 on the hourly graph of the BCH/USD pair. Moreover, the half Lie retracement level of the ongoing decay from the $476 high to $425 low is at $451.

BCHUSD Price Chart 12 September

Taking a gander at the graph, Bitcoin cash price stays at a danger of more misfortunes beneath the ongoing low of $425. The following focus for merchants may well be $400.

Taking a gander at the technical pointers:

Hourly MACD – The MACD for BCH/USD is right now in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is well beneath the 40 level.

Real Support Level – $425

Real Resistance Level – $460

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.

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