Bitcoin Cash Price Analysis: BCH/USD bulls wrest back control and price consolidates below $250

BCH/USD bounces up after finding support at the SMA 20 curve.
The MACD shows that market momentum has reversed from bearish to bullish.

Rajarshi Mitra Independent Analyst

BCH/USD daily chart

Following a bearish Tuesday, BCH/USD bulls took back control as the price went up slightly from $246.90 to $247.50. The price bounced back after finding support at the SMA 20 curve. The MACD shows that market momentum has reversed from bearish to bullish. The Elliott Oscillator is back in the green following a red session.

The price has strong resistance levels on the upside at $258.40, $267.55 and SMA 200. On the downside, apart from the SMA 20, there are healthy support levels at SMA 50, $233.50 and $217.

Key levels

BCH/USD

Overview
Today last price	246.5893
Today Daily Change	-0.3039
Today Daily Change %	-0.12
Today daily open	246.8932

Trends
Daily SMA20	246.1671
Daily SMA50	240.0889
Daily SMA100	274.1826
Daily SMA200	270.277

Levels
Previous Daily High	250.6751
Previous Daily Low	242.4489
Previous Weekly High	265.4907
Previous Weekly Low	217.6786
Previous Monthly High	280.3806
Previous Monthly Low	206.3545
Daily Fibonacci 38.2%	245.5913
Daily Fibonacci 61.8%	247.5327
Daily Pivot Point S1	242.6697
Daily Pivot Point S2	238.4462
Daily Pivot Point S3	234.4435
Daily Pivot Point R1	250.8959
Daily Pivot Point R2	254.8986
Daily Pivot Point R3	259.1221

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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Bitcoin Cash Price Analysis: BCH/USD bulls wrest back control and price consolidates below $250