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.
BCH/USD daily chart
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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
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.
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