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Bitcoin Cash Price Analysis: BCH/USD climbs above $235, are the bulls back?

  • Bitcoin Cash spikes above $230 and steps past $235 as buyers return from their hiding.
  • The cryptoasset, BCH is in the hands of the bulls but the low trading volume limits what they bulls can do.
Bitcoin Cash Price Analysis: BCH/USD climbs above $235, are the bulls back?
John IsigeJohn IsigeFXStreet

Bitcoin Cash bulls are making a comeback after a weekend session characterized sideways trading due to low activity. The Asian session on Monday started on a different note with Bitcoin Cash extending the price action above $230. With over 2% in gains from the opening value, BCH is trading above the 200 SMA as well as the stubborn seller congestion zone at $235.

At the time of writing, BCH/USD is dancing with $235.43. The bulls appear to be settling for consolidation. Looking at the RSI, the digital asset is in the hands of the bulls. Sideways trading is likely to take over in the near term, especially if the RSI fails to cross into the overbought region soon enough.

BCH/USD 1-hour chart

BTC/USD price chart

The MACD still places BCH into the hands of the bulls. It is, therefore, apparent Bitcoin Cash is technically ready for a lift-off above $240 but in retrospect, the low volume limits the impact the bulls have on the price. For now, the best the bulls can do is to hold the price above the short term support at $235. In case of a reversal occurs, other support areas include $230 and $225.

More Bitcoin Cash levels

BCH/USD

Overview
Today last price235.4106
Today Daily Change5.3672
Today Daily Change %2.33
Today daily open230.0434
 
Trends
Daily SMA20244.4415
Daily SMA50242.3735
Daily SMA100234.2689
Daily SMA200268.3439
 
Levels
Previous Daily High233.8966
Previous Daily Low229.6263
Previous Weekly High242.9648
Previous Weekly Low224.2956
Previous Monthly High277.2914
Previous Monthly Low217.6786
Daily Fibonacci 38.2%231.2575
Daily Fibonacci 61.8%232.2653
Daily Pivot Point S1228.4809
Daily Pivot Point S2226.9184
Daily Pivot Point S3224.2106
Daily Pivot Point R1232.7513
Daily Pivot Point R2235.4591
Daily Pivot Point R3237.0216

Author

John Isige

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

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