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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.

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