Bitcoin Cash Price Analysis: BCH/USD bulls have decent room for fast $300 return

Bitcoin Cash price is trading in the green, with losses of 6.60% in the second half of the session.
BCH/USD bulls have the opportunity to run towards the $300 price territory.
Price action has been consolidating over the last three sessions, another breakout eyed.

Ken Chigbo Independent Analyst

BCH/USD weekly chart

The price was able to produce a closure in the green last week, with further recovery eyed. Weekly resistance should be noted at the $250 price mark.

BCH/USD daily chart

Should the bulls break down the above-noted barrier, then a fast move back into $300 could very well be seen.

Spot rate: 246.05

Relative change: +6.60%

High: 246.73

Low: 231.19

BCH/USD

Overview
Today last price	249.7646
Today Daily Change	18.4055
Today Daily Change %	7.96
Today daily open	231.3591

Trends
Daily SMA20	218.2128
Daily SMA50	275.2842
Daily SMA100	305.2477
Daily SMA200	270.6879

Levels
Previous Daily High	240.2322
Previous Daily Low	224.4072
Previous Weekly High	249.8177
Previous Weekly Low	204.4384
Previous Monthly High	353.0056
Previous Monthly Low	135.8533
Daily Fibonacci 38.2%	230.4524
Daily Fibonacci 61.8%	234.1871
Daily Pivot Point S1	223.7668
Daily Pivot Point S2	216.1745
Daily Pivot Point S3	207.9418
Daily Pivot Point R1	239.5918
Daily Pivot Point R2	247.8245
Daily Pivot Point R3	255.4168

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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Bitcoin Cash Price Analysis: BCH/USD bulls have decent room for fast $300 return