BCH Prices Stepping Up Step-By-Step On Each Fib Level

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BCH
  • BCH price surged by 75% in the last rally and observed a breather
  • The breather took the price back to 23.6%, which when retested made the prices rally up to break the symmetrical triangle formed
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BCH price have formed a triangle pattern on its way down from the all-time high of $654. The coin price has confirmed the presence of support at $360-$365 zones. The price is not gradually surging and testing the subsequent resistance. The market cap and 24-hour volume are $8,098,496,192 and $432,518,721 respectively. 

BCH Price Stepping Up Step-By-Step On Each Fib Level

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BCH price has broken out of the triangle by testing the 23.6% Fibonacci levels($360). The price is currently making a full-bodied green candle suggesting an increase in participation of bulls. The price is also breaking and taking support from each Fibonacci level. Currently, the price is resting above 38.2% levels($416). 

BCH price is hovering above VWAP($430), 10EMA($415), 20EMA($432) and 50EMA($4100), which indicates the presence of a bullish trend. 10EMA is preparing to crossover 20EMA, which is another buy signal for more bulls. 

The Bollinger Band(median 10EMA) signalled a minor increase in the volatility as the upper band, and the lower band have commenced expansion. The coin is above the median, which is bullish for the coin. The upper band is restricting the prices at $453 while the lower band supports the price at $380. 

The RSI is surging after retesting levels of 50. The RSI is currently 52. It is likely to find resistance at 60, 70 and 80 levels.

The MACD(8,21,5) has turned green for the bulls to carry the prices towards a new high. The MACD might face resistance at 15-20 and 66, which are its previous tops. The MACD is currently below the 0 levels. 

Conclusion –

BCH price has given a breakout and surging gradually. The prices are breaking subsequent Fibonacci levels. The coin might increase and make a new all-time high. However, the prices need to break through the crucial resistance of 61.8%($507) and 100%($654).

Support: VWAP($430), 10EMA($415), 20EMA($432), 50EMA($4100 and 38.2% Fib level($360)

Resistance: Fib levels:50%($462) 61.8%($507) and 100%($654) 

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