Bitcoin Cash (BCH) Price Analysis: BCH Bulls are Prepared for Upcoming Halving in April

Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • BCH is currently trading with a gain of 14.67%, breaking the resistance of $440.
  • BCH halving is scheduled for April 2020 and is providing a positive impact on the price of BCH.

Bitcoin Cash (BCH) has broken out of the overhead resistance of $440 and is currently trading around $442.67. The next minor resistance for BCH will be $450, and it can be expected that the bullish movement will also break that mark.

Technical Aspects 

Source: Tradingview.com

The technical charts are showing a steep rising price shift since starting of February and is likely to continue this bullish movement. BCH has recorded 91% growth for a month.

It can be said that the reason behind this strong positive movement for BCH can be BCH halving or block reward halving, which is scheduled on April 8, 2020. This may provide BCH a bullish push for this month

According to CoinMarketCap, the fifth-largest cryptocurrency in the world is having a market capitalization of $8,032,578,405 USD, and the volume traded around is $5,764,031,910.

The RSI is around 70 level. The negative divergence from the overbought zone also indicates a positive movement in the near future.

Resistance Level : $450 USD

Support level : $435 USD

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