Bitcoin Cash (BCH) Prices Touched The Resistance Level Of $270 With Explosive Climb

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Ayush Malviyahttps://www.thecoinrepublic.com/
Ayush Malviya has recently joined as a technical market reporter for Thecoinrepublic- the Leading cryptocurrency news site. He believes that there is a broad scope in Crypto market and blockchain. Thats why he loves to gather knowledge about it and like to analyse the market pattern.
  • BCH manages to climb above the crucial resistance levels of $270, $265 and $260 and currently seeking ways to acquire a level of $275.
  • BCH prices are suffering a bit of slight variation and currently trading near the level of $274.
  • The BCH/BTC is performing positively with the gain of 32% bringing the level to 0.03760851.

BCH prices are having a good time in their trading and trying to achieve the resistance level of $275, even after acquiring a sharp positive divergence price were unable to maintain a gradual climb up above this level and sustained a slight slip below.

The price level of $250 provided major support to the prices after they broke down the support level of $255. This support level is also pushing prices upfront against bears and this level is coming very handy to the prices.

The only option for developing a gradual climb above the level of $275 is to continue trading at the level of $274 and develop support there.

The market capitalization of Bitcoin Cash is USD 5,037,408,844 with volume traded of $5,205,191,110 and a circulative supply of 18,374,588 BCH.

BCH Price Analysis

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BTCash
Source:tradingview

BCH prices did made a sharp impressive climb. From falling below the support level of $255 to upsurge towards the resistance level of $275. Currently, there is a dominance of the bullish trend in the prices of the cryptocurrency.

The technical indicators and oscillators are showing an increase in buying trade of cryptocurrency as prices acquired a positive divergence but not in all aspects of the technical chart.

The MACD levels are currently witnessing the trading majorly in the buying volume of cryptocurrency as there is a bullish momentum.

The24hr- RSI is trading in the heavy bullish zone above the normal level but it did take a slight negative divergence but that’s enough as prices are strongly maintaining their presence in over buying region

The 24hr-CCI climbs above the normal region and enjoying trading in the over buying region.

Resistance level: $275
Support level: $265

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