TRENDING:
Oil price
XAU/USD
EUR/USD
Trade War
GBP/USD
Silver
BoJ Interest Rate
RBA Interest Rate
Sponsored by
Login
|

Bitcoin Cash Price Analysis: BCH/USD bears drop price below channel formation

  • BCH/USD drops down after encountering resistance at $309.
  • The SMA 20 is looking to cross over the SMA 200 to chart bullish cross pattern.
Bitcoin Cash Price Analysis: BCH/USD bears drop price below channel formation
Rajarshi MitraRajarshi MitraIndependent Analyst

BCH/USD daily chart

BCH/USD daily chart

BCH/USD faced bearish correction after two straight bullish days. BCH/USD dropped from $309 to $305.20 this Friday. In the process, it fell below the upward channel formation. The SMA 20 is looking to cross over the SMA 200 to chart bullish cross pattern. The MACD shows decreasing, yet sustained bullish momentum, while the RSI is trending around 64.25, next to the overbought zone.

BCH/USD has strong resistance levels at $309 and $319.45. On the downside, we have healthy support levels at $297, $283.50 and $272.20 (SMA 20 and SMA 200).

Key levels

BCH/USD

Overview
Today last price305.2017
Today Daily Change-3.8734
Today Daily Change %-1.25
Today daily open309.0751
 
Trends
Daily SMA20267.5458
Daily SMA50245.3683
Daily SMA100244.7907
Daily SMA200272.8491
 
Levels
Previous Daily High319.7576
Previous Daily Low287.5641
Previous Weekly High306.6192
Previous Weekly Low244.4436
Previous Monthly High306.6192
Previous Monthly Low215.8202
Daily Fibonacci 38.2%307.4597
Daily Fibonacci 61.8%299.862
Daily Pivot Point S1291.1736
Daily Pivot Point S2273.2721
Daily Pivot Point S3258.9802
Daily Pivot Point R1323.3671
Daily Pivot Point R2337.6591
Daily Pivot Point R3355.5606

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

More from Rajarshi Mitra
Share:

Editor's Picks

Crypto Overview: Bitcoin stabilizes above $65,000, as Zcash and Worldcoin lead broader recovery

Crypto Overview: Bitcoin stabilizes above $65,000, as Zcash and Worldcoin lead broader recovery

Bitcoin shows signs of recovery, trading above $65,000 on Monday, as the broader crypto market rebounds, fueled by improving sentiment following the United States (US) and Iran's confirmation of a preliminary peace agreement.

Crypto Today: Bitcoin, Ethereum, XRP recovery gathers strength as US-Iran reach peace agreement

Crypto Today: Bitcoin, Ethereum, XRP recovery gathers strength as US-Iran reach peace agreement

Cryptocurrency prices remain broadly elevated on Monday, led by Bitcoin’s upswing toward $66,000. Altcoins, including Ethereum and Ripple, mirror Bitcoin’s momentum, trading above $1,700 and $1.18.

Bitcoin extends rebound as US and Iran reach framework deal to end the war

Bitcoin extends rebound as US and Iran reach framework deal to end the war

Bitcoin steadies above $65,700 at the time of writing on Monday, after recovering nearly 4% in the previous week. BTC recovery was boosted following Sunday’s news that the US and Iran have reached a preliminary peace deal, lifting the risk appetite.

Pi Network Price Forecast: Launchpad upgrades, fading bearish pressure lift recovery prospects

Pi Network Price Forecast: Launchpad upgrades, fading bearish pressure lift recovery prospects

Pi Network (PI) began the week on a positive note, trading above $0.1340 on Monday after posting a mild recovery and closing above a key resistance in the previous week.

Experts agree: Bitcoin nears bottom, but weak demand raises doubts

Experts agree: Bitcoin nears bottom, but weak demand raises doubts

Bitcoin (BTC) is trading above $63,000 at the time of writing on Friday after rebounding from the key 200-week Simple Moving Average (SMA) near $62,000, a level widely viewed as key long-term support. The recovery may suggest that Bitcoin has found a floor after a sharp correction that spanned more than a month, but some warning signs persist.