Bitcoin Cash Price Analysis: BCH/USD bulls comeback as daily price charts bullish cross pattern
- BCH/USD bulls came back following a bearish Tuesday.
- The SMA 20 has crossed above the SMA 50, to chart a bullish cross pattern.
- The MACD shows decreasing bullish momentum.
BCH/USD daily chart
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BCH/USD bulls stepped in after a bearish Tuesday as the price went up from $254 to $254.40. The SMA 20 has crossed above the SMA 50, to chart a bullish cross pattern. The MACD shows decreasing bullish momentum, while the Elliott Oscillator has had two consecutive red sessions.
Support and Resistance
BCH/USD daily charts has three strong resistance levels on the upside at $258, $265.45 and SMA 200. On the downside, there are four healthy support levels at $246.50, SMA 20, SMA 50 and $238.80.
Key levels
Author
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.
