Bitcoin Cash price analysis: BCH/USD bulls set eyes on $300; climbs 11% on Friday 3
|- BCH/USD explosive gains are towering above the crypto universe.
- While grinding towards $300, the digital BCH has formed an intraday high at $296.76.
Bitcoin is welcoming the weekend sessions in style. The asset explosive gains are towering above the crypto universe. Like other major assets, BCH/USD is trading above several resistance levels. On the eve May, Bitcoin Cash buyers pushed for gains above the support formed at $230. Further upside correction continued in the first and second days of May breaking above $250, and $270.
Although we had a retracement back to the resistance turned support at $260 yesterday, bulls have opened the trading on Friday with gains not only above $270 but also past $290. While grinding towards $300, the digital asset has formed an intraday high at $296.76.
The trend is still strongly bullish with the RSI still battling to enter the levels above 70.00. The is also above the 100 SMA while the MACD divergence in the positive region widening to show that the buyers have an edge above the bulls. Although hitting $300 might be an overstretch this Friday, support above the 100 SMA will allow the bulls to push for gains in the coming weekend sessions.
BCH/USD 1-hour chart
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