Bitcoin Cash Price Analysis: BCH finally breaks above $231 resistance level


  • BCH has been previously trending in a $10-range between $221.20 to $231.
  • BCH must now get over strong resistance between $236.58 and $243.20

After trending in a narrow $10-range between $221.20 to $231, the bulls were finally able to push above the $231 resistance line. Currently, the buyers aim to take BCH/USD to $243.85 to break above the SMA 20 curve. The recent bullish price action has jumped the RSI from the edge of the oversold zone to 50. What this means is that there is more space for buyers to push the price up.

BCH/USD daily 

BCH/USD daily chart

BCH/USD IOMAP

fxsoriginal

However, to enjoy any more bullish movement, BCH has to somehow get over strong resistance between $236.58 and $243.20. If they do manage to do that, then the price should be able to go up to $273, where it encounters the next strong resistance level.

On the flip side, if the price does fail to encounter the initial resistance, there is a moderate-to-strong support zone between $226.65 to $233.27.

Key levels

BCH/USD

Overview
Today last price 238.6948
Today Daily Change 12.7416
Today Daily Change % 5.64
Today daily open 225.9532
 
Trends
Daily SMA20 244.8972
Daily SMA50 274.7613
Daily SMA100 254.6179
Daily SMA200 248.8554
 
Levels
Previous Daily High 228.8056
Previous Daily Low 219.0434
Previous Weekly High 233.272
Previous Weekly Low 215.8975
Previous Monthly High 338.2532
Previous Monthly Low 244.1306
Daily Fibonacci 38.2% 225.0765
Daily Fibonacci 61.8% 222.7726
Daily Pivot Point S1 220.3959
Daily Pivot Point S2 214.8385
Daily Pivot Point S3 210.6337
Daily Pivot Point R1 230.1581
Daily Pivot Point R2 234.3629
Daily Pivot Point R3 239.9202

 


 

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