Bitcoin Cash Price Analysis: BCH is currently lacking the momentum to hit 250.00

Bitcoin Cash is still positive but looks like it lacks enough momentum to hit 250.00.
The main support level is at 200.00 and the price is above a key moving average.

Rajan Dhall, MSTA FX Daily

BCH/USD 1-hour chart

Bitcoin Cash is trading over 8% higher on Monday as sentiment continues to improve. The main resistance level is marked in red and stands just under 250.00. This is a key level for the bulls as it has been used many times over the last 6 months or so. The black internal trendline on the chart is also proving tricky as there is a large candle shadow (wick) which shows that it is causing some issues at the moment too.

Looking at the other technical indicators, the price is firmly above both the 200 and 55 moving averages which is bullish. The RSI is also in a positive zone above 50. The only thing that can improve is the volume on the moves up, as it seems like a very lacklustre market at the moment.

Additional level

BCH/USD

Overview
Today last price	219.1328
Today Daily Change	16.3479
Today Daily Change %	8.06
Today daily open	202.7849

Trends
Daily SMA20	241.4844
Daily SMA50	335.8449
Daily SMA100	300.7235
Daily SMA200	276.1147

Levels
Previous Daily High	233.1157
Previous Daily Low	200.1459
Previous Weekly High	245.8036
Previous Weekly Low	147.0667
Previous Monthly High	496.9345
Previous Monthly Low	299.0373
Daily Fibonacci 38.2%	212.7404
Daily Fibonacci 61.8%	220.5212
Daily Pivot Point S1	190.9153
Daily Pivot Point S2	179.0457
Daily Pivot Point S3	157.9455
Daily Pivot Point R1	223.8851
Daily Pivot Point R2	244.9853
Daily Pivot Point R3	256.8548

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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BCH/USD 1-hour chart

Additional level

BCH/USD

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