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Bitcoin Cash Price Analysis: BCH/USD falls after losing momentum at the $243.50 resistance level

  • BCH/USD faced heavy bearish correction following a bullish Wednesday.
  • The price is trending back inside the red Ichimoku cloud.
Bitcoin Cash Price Analysis: BCH/USD falls after losing momentum at the $243.50 resistance level
Rajarshi MitraRajarshi MitraIndependent Analyst

BCH/USD daily chart

BCH/USD daily chart

BCH/USD has dropped from $243.32 to $237 this Thursday, following a bullish Wednesday. In the process, the price has dropped back inside the red Ichimoku cloud, and fallen below the SMA 50 curve. The MACD shows increasing bullish momentum, despite Thursday’s bearish price action.

Support and resistance

BCH/USD faces strong resistance at $243.50, $240.48 and $237.35 (SMA 50). On the downside, healthy support lies at $235 and $230.10 (SMA 20).

Key levels

BCH/USD

Overview
Today last price236.8392
Today Daily Change-6.4791
Today Daily Change %-2.66
Today daily open243.3183
 
Trends
Daily SMA20229.7308
Daily SMA50237.2038
Daily SMA100238.6464
Daily SMA200270.6196
 
Levels
Previous Daily High246.0454
Previous Daily Low236.1407
Previous Weekly High227.3836
Previous Weekly Low213.3598
Previous Monthly High269.2895
Previous Monthly Low204.6275
Daily Fibonacci 38.2%242.2618
Daily Fibonacci 61.8%239.9243
Daily Pivot Point S1237.6242
Daily Pivot Point S2231.9301
Daily Pivot Point S3227.7195
Daily Pivot Point R1247.5289
Daily Pivot Point R2251.7395
Daily Pivot Point R3257.4336


 

Author

Rajarshi Mitra

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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