Bitcoin Cash Price Analysis: BCH consolidates above 293.00 inside symmetrical triangle

  • BCH/USD wavers inside a range below 298.00 amid bearish MACD.
  • 200-bar SMA adds to the downside filters, eight-day-old triangle restricts immediate moves.

BCH/USD rises to 293.83, up 0.50% intraday, during early Friday. Even so, the crypto pair keeps the two-day-old trading range below 298.00 while also respecting a short-term symmetrical triangle formation established from November 24.

Although bearish MACD suggests another failure by the BCH/USD buyers to cross the 298.00 round-figure, any further upside will be challenged by the stated triangle’s resistance line, at 301.80 now. Also acting as an immediate upside barrier is the 300.00 threshold.

In a case where the quote rises past-301.80, a November-end top near 322.63 will gain the market’s attention.

On the contrary, 284.50 and the triangle’s support around 282.90 can challenge the pair’s short-term downside ahead of a 200-bar SMA level of 270.80.

While BCH/USD bears can eye for the late-November low near 252.40 on the downside break of the stated triangle, multiple supports around 250.00, 241.00 and the previous month’s low near 231.00 can challenge the quote’s additional weakness.

BCH/USD four-hour chart

Trend: Sideways

Additional important levels

Today last price 292.0621
Today Daily Change -0.4790
Today Daily Change % -0.16%
Today daily open 292.5411
Daily SMA20 281.907
Daily SMA50 268.1977
Daily SMA100 251.6039
Daily SMA200 252.808
Previous Daily High 297.4211
Previous Daily Low 285.988
Previous Weekly High 372.4834
Previous Weekly Low 252.3832
Previous Monthly High 372.4834
Previous Monthly Low 231.5318
Daily Fibonacci 38.2% 290.3554
Daily Fibonacci 61.8% 293.0537
Daily Pivot Point S1 286.5457
Daily Pivot Point S2 280.5502
Daily Pivot Point S3 275.1125
Daily Pivot Point R1 297.9788
Daily Pivot Point R2 303.4166
Daily Pivot Point R3 309.412



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