Bitcoin Cash Price Analysis: BCH/USD range-bound as trendline resistance stays put

  • Bitcoin Cash consolidation phase continues within a ranging channel.
  • Technical indicators show a developing bullish momentum likely to break the range resistance.

The tug of war between Bitcoin Cash bulls and bears is just getting started. The buyers are pushing to come out of range resistance at $208 while sellers, on the other hand, desire to see BCH under $204 (range support) and below $200, respectively.

The ongoing trend is strongly bearish according to the cryptocurrency live rates table. The low volatility levels suggest that declines will not be sharp or rapid in the current and coming sessions.

Bitcoin Cash is teetering between the moving average support and resistance. The 50 SMA currently at $206 on the 4-hour chart is offering the support. On the upside, the 100 SMA at $207.61 will limit gains pushing to clear the range resistance.

Marginally above the price, a descending trendline caps movement north. The RSI shows a developing bullish momentum likely to correct above the trendline. The MACD also shows an improving technical picture. Therefore, if BCH nurtures the improving technical picture, a recovery above the range is possible.

BCH/USD 4-hour chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin is not money even if it costs nearly $9,000 - Ray Dalio

Bitcoin (BTC) has settled below $8,700 after a short-lived move to $8,791 during early Asian hours. The first digital coin has stayed mostly unchanged both on a day-to-day basis.

More Bitcoin News

Litecoin price analysis: LTC/USD bulls desperate to push the price above $60.00

Litecoin, the 7th largest digital coin with the current market value of $3.6 billion, hit the intraday high at $59.14 and retreated below $58.00 by the time of writing, LTC/USD is changing hands at $57.95.

More Litecoin News

Ethereum is the most correlated crypto asset, research shows

Ethereum, the second-largest digital asset with the current market value of $18.4 billion, has lost nearly 1% since the beginning of Wednesday and stayed unchanged on a day-to-day basis. 

More Ethereum News

Why ETC/USD January upsurge unstoppable?

Ethereum Classic surge is still on despite the bearish wave across the cryptocurrency landscape. The digital asset has corrected 4.47% higher on the day.

More Ethereum Classic News


Bitcoin Weekly Forecast: Bulls piggy-back on altcoins rally

This week was marked by a strong altcoins rally on the cryptocurrency markets. Bitcoin SV (BSV) and Dash experienced the sharpest price increase over 100% in recent seven days...

Read the weekly forecast