• BCH/USD went up from $404 to $443.50.
  • Bulls are aiming for $500.

After trending between $375 and $400 in the closing hours of Wednesday, the bulls took over the market and surged the price up to $443.50 from $404 within two hours. This is the highest that BCH/USD has been priced at since November 2018. The bulls are aiming to breach the $500-level. 

BCH/USD Daily Chart

  • The price is currently trending upwards in a channel formation.
  • The Ichimoku indicator hints at an upcoming bearish correction.
  • The market is trending above the SMA 200, SMA 50, and SMA 20 curves.
  • On the upside, the nearest resistance level lies at $470.
  • The signal line is diverging away from the MACD line, showing increasing bullish momentum.
  • The Elliot wave oscillator shows six consecutive bullish sessions of increasing intensity.
  • The relative strength index (RSI) indicator is in the overbought zone and is currently trending at 85.70.
     

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price analysis: BTC/USD consolidates ahead of the next leg up to $11,000

BTC/USD trading pair failed to sustain gains above $11,000 during last weekend’s breakout out. A retracement from the highs at $11,123 found balance at the 100 Simple Moving Average (SMA) allowing for correction above $10,500.

More Bitcoin News

Bitcoin Price Shuns Volatility as Analysts Warn of Potential Drop to $7,000

By comparison, last week saw BTC/USD trade as high as $11,060 and as low as $9,125. The motivation, analysts mostly agreed, was regulatory uncertainty as the United States Congress met several times to debate the impact of both cryptocurrency and Facebook’s Libra digital currency.

More Bitcoin News

Ethereum price analysis: ETH/USD bulls gather breath before another assault at $230

Ethereum, the second-largest cryptocurrency with the current market capitalization of $24.2 billion, settled above $225.00; however, the further recovery is limited. ETH/USD is moving in lockstep with Bitcoin (BTC) and the rest of the cryptocurrency market ...

More Ethereum News

Cryptocurrencies are not banned in India. Not yet

Despite that the Indian government has been discussing a draft bill for prohibiting cryptocurrencies, there is no blanket ban on digital assets on the territory of the country as of yet, according to the Minister of State for Finance and Corporate Affairs Anurag Thakur. 

More Cryptocurrencies News

Bitcoin Weekly Forecast: bulls lick wounds after major sell-off

The cryptocurrency market has lived through a dreadful week as Bitcoin(BTC), and all major altcoins crashed below several important support levels. 

Read the weekly forecast

BTC

ETH

XRP