Bitcoin Cash Price Analysis: BCH/USD bulls sustain a late bearish charge to keep the price above $225

BCH/USD has managed to stay in charge for the second straight day.
There was a brief retreat from the $225-zone, but the buyers have since restored order.
The MACD, however, shows sustained bearish momentum.

Rajarshi Mitra Independent Analyst

BCH/USD daily chart

BCH/USD bulls stayed in control for the second straight day as the price went up from $222.47 to $225.55. During the day, the price retreated slightly from the $225 level but has since peeked back into the zone. Despite the bullish price action of the last two days, the MACD shows that the market momentum is currently bearish.

Support and Resistance

BCH/USD has three strong resistance levels at $229.82, $234.85 (SMA 20) and $239.90. On the downside, there is healthy support at $216.75

Key levels

BCH/USD

Overview
Today last price	224.9374
Today Daily Change	2.4832
Today Daily Change %	1.12
Today daily open	222.4542

Trends
Daily SMA20	236.3152
Daily SMA50	239.3864
Daily SMA100	237.5413
Daily SMA200	269.0655

Levels
Previous Daily High	225.3721
Previous Daily Low	213.3598
Previous Weekly High	245.5386
Previous Weekly Low	226.1723
Previous Monthly High	277.2914
Previous Monthly Low	217.6786
Daily Fibonacci 38.2%	220.7834
Daily Fibonacci 61.8%	217.9485
Daily Pivot Point S1	215.4186
Daily Pivot Point S2	208.383
Daily Pivot Point S3	203.4063
Daily Pivot Point R1	227.431
Daily Pivot Point R2	232.4077
Daily Pivot Point R3	239.4433

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.

Bitcoin braces for US midterm elections as historical sell-offs revive downside concerns

Bitcoin (BTC) braces for the impact of the US midterm elections, just a week after the $6 billion hack from Binance. Historically, congressional elections have negatively affected not just the president’s party but also Bitcoin.

Bitcoin slips below $78,000 amid ETF outflows

Bitcoin (BTC) slips below $78,000 at the time of writing on Monday after posting its fourth straight weekly loss. Institutional demand shows signs of weakening, with spot Exchange Traded Funds (ETFs) recording outflows of over $202 million last week.

Crypto Today: Bitcoin, Ethereum and XRP consolidate amid weak market sentiment

Bitcoin hovers above $78,000, building on the 100-day EMA support as market sentiment remains weak. Ethereum shows signs of recovery near $2,300, though upside remains technically capped.

Pi Network tests long-term resistance breakout as selling pressure wanes

Pi Network edges higher on Monday, testing the bullish breakout of a long-term resistance trendline. Fear and Greed Index declines to 36 from 43 last week, indicating reduced risk appetite.

Bitcoin: Binance security breach and hawkish Fed push BTC lower

Bitcoin (BTC) continues to weaken this week, down more than 3% and heading for its fourth straight weekly loss. The largest cryptocurrency by market capitalization is facing a bearish outlook, fueled by a hawkish Federal Reserve (Fed) outlook at the October meeting and a reported $6.3 billion hack at Binance, which is driving risk aversion and triggering heavy liquidations.

Bitcoin Cash Price Analysis: BCH/USD bulls sustain a late bearish charge to keep the price above $225