Bitcoin Cash Price Analysis: BCH/USD goes up by 5.35% as price breaks above $240

BCH/USD bulls took charge after four straight bearish sessions.
The price currently has found resistance at the green Ichimoku cloud.
William’s %R has bounced up from the oversold zone to -50.

Rajarshi Mitra Independent Analyst

BCH/USD daily chart

BCH/USD bulls have taken charge of the market as the price jumped from $230 to $242.30. The price is currently on the verge of entering the green Ichimoku cloud. William’s %R has bounced up from the oversold zone to -50, following bullish price action. Finally, the MACD has gone down from -1.82 to -1.08, indicating decreasing bearish market momentum.

Support and Resistance

BCH/USD faces immediate resistance at the SMA 50 curve. Apart from that, BCH/USD faces resistance at SMA 50, SMA 20, $246.65 and $253.40. On the downside, good support lies at $240.40 and $235.

Key levels

BCH/USD

Overview
Today last price	242.3215
Today Daily Change	12.2781
Today Daily Change %	5.34
Today daily open	230.0434

Trends
Daily SMA20	244.4415
Daily SMA50	242.3735
Daily SMA100	234.2689
Daily SMA200	268.3439

Levels
Previous Daily High	233.8966
Previous Daily Low	229.6263
Previous Weekly High	242.9648
Previous Weekly Low	224.2956
Previous Monthly High	277.2914
Previous Monthly Low	217.6786
Daily Fibonacci 38.2%	231.2575
Daily Fibonacci 61.8%	232.2653
Daily Pivot Point S1	228.4809
Daily Pivot Point S2	226.9184
Daily Pivot Point S3	224.2106
Daily Pivot Point R1	232.7513
Daily Pivot Point R2	235.4591
Daily Pivot Point R3	237.0216

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 goes up by 5.35% as price breaks above $240