Bitcoin Cash Analysis: BCH indicating the bullish momentum after taking support

Bitcoin cash trading on the bullish note
  • Bitcoin cash trading on the bullish note after taking support and currently trading above 50,100 and 200-Day Moving Averages (DMA)
  • The pair of BCH/BTC is trading at 0.01195 BTC with intraday loss of -0.66% 

Bitcoin cash (BCH) is trading on a bullish note, after slipping from a bullish mark of $630. Presently, BCH is trying to recover from lower levels and is now facing a minor resistance of 20-DMA. Likewise, 50,100 and 200-DMA is acting as a support line on lower levels. Support levels on the downside are placed at $400 and $360. Meanwhile, resistance on the higher sider is placed at $480 and $530. The breakout above $640 can give the targets of $750 and $880 in upcoming trading sessions. 

Bitcoin cash is trading on a bullish trend on the short term chart, with support at $420 and $400. The resistance on the higher side is placed at $460 and $480. Primarily the significant resistance is placed at $525. Presently BCH standing at $433 with an intraday gain of +1.66% volume recorded in the last 24-hour is $5,020,878,572 with an intraday drop of -4.45% and the market capitalization increased by +6.47% standing at $5,020,878,572. However, the volume is not supported for a positive breakout.  

- Advertisement -

Relative Strength Index (Bullish) indicates a bullish momentum while trading at 61.86. However, it is currently heading towards the overbought zone after recovering from lower levels. 

Moving Average Convergence Divergence (Bullish) currently indicates a Bullish trend on the daily chart as giving a positive crossover with the significance of buying signal line (green) over sellers line(red) with no sign of weakness. 

Support levels: $400 and $360

Resistance levels: $530 and $640

Join The Coin Republic’s Telegram Channel for more information related to CRYPTOCURRENCY NEWS and predication.

How useful was this post?

Click on a thumb to rate it!

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

Download our App for getting faster updates at your fingertips.

Pratik Chadhokar
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

Similar Articles



Please enter your comment!
Please enter your name here

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange