Bitcoin Cash price analysis: BCH/USD price saved by support within early $1,200 region, looking to break the recent high $1,575
|- Bitcoin Cash price up 5% in late trading on Thursday, as the price recovers from prior session pressure.
- Resistance tracks from $1,500-1,700, support currently runs from $1,200-1,000.
The Bitcoin Cash price was seen up some 5% in the latter stages of trading on Thursday, looking to regain the strong recent upward trend. The price managed to catch support within the early $1,200 region, which has proven it be bidding zone on several occasions.
During the session of Wednesday, crypto prices across the board cooled greatly, not surprising given the large gains seen of late in such a short space of time. It appears that bulls had a slight breather from their strong run, but ready to continue move higher, after receiving a boost from the supporting bounce.
BCH/USD with the recent bounce off a strong touted bidding area, could provide enough juice to the bulls for a retest and attempt to break down $1,500 supply zone. Should the zone of $1,500-1,700 get broken down, it may not be long until the price revisits $2,000 territory. There is a decent amount of support tracking from $1,200-1,000.
BCH/USD daily chart
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