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- BCH price bounced back to $536.42 from the support of $440.52 on Monday’s trading session.
- The SuperTrend indicator projects a buy signal. Until now, no signs of downtrend have been observed.
- The BCH/BTC pair was trading at 0.009942 BTC with a loss of 1.75%
The 4-hour technical chart of BCH projects a buy signal with an uptrend while presenting a SuperTrend indicator. Investors are intended to buy BCH when the indicator turns from red to green while moving below the price. As long as the SuperTrend signals a bullish trend, BCH’s downtrend remains doubtful.
Bitcoin Cash (BCH) Bounced Back From Support of $440.52
BCH price was $536.42 (at the time of writing); according to pivot points, BCH critical support level is placed at $440.52. Whereas if it moves up, the key resistance level to watch is $735.23. While diving into the weekly chart of a 4-hour time-frame, it completes a bullish pin bar candlestick pattern, representing a sharp reversal and rejection of price.
SMA-50 & 100 acts as another strong support in the coin. SMA-50 (purple) moves below the SMA-100 (white), which projects a negative trend. The price is above both the SMA’s, which is a positive sign for the asset. Furthermore, investors can observe the lines moving close to each other, which indicates a positive crossover may happen in future trading sessions.
RSI indicator (BULLISH), with a value of 59.40, indicates a buy signal in the coin. Moreover, Investors can observe a downward slope in RSI from 70 to 59, and Investors should hold the asset and wait for the RSI to get towards the overbought zone.
Hold your Positions in Bitcoin Cash For Great Returns
BCH price traded at $536.42 with a gain of 5.20% in the last 24-hour. However, BCH maintains a neutrality of 0.74% on the weekly time-frame. In contrast, the market capitalization stands at $10 billion. Technically, BCH price bounced back from the support of $440.52 and will be moving positively towards the resistance level of $735.23.
Resistance: $735.23
Support: $440.52
Mr, Nikhil Ingole is a Chief Editor at The Coin Republic with over five years of technical analysis & trading experience in Forex and Crypto. As a commerce graduate, he has taken a keen interest in blockchain’s future potentials in the financial industry. A keen cryptocurrency enthusiast, he is very supportive of new media projects, pioneer ideas and the Bitcoin community. He possesses strong technical, analytical skills and is well known for his financial market’s informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.
