Bitcoin Cash rallies over 8% after Binance announced support of Bitcoin Cash hard fork

Bitcoin Cash price held decent gains of around 7%, after spiking to the upside in afternoon trading.
Binance announced through their blog, they will be supporting the Bitcoin Cash hard fork.
Within 3 hours of trading BCH/USD rallied some 8%, following the news.

Ken Chigbo Independent Analyst

BCH/USD 60-minute chart

Spot rate: 457.5

Relative change: +7.22%

High: 463.2

Low: 425.2

Trend: Neutral

Resistance 1: 463.0, resistance on 60-minute.

Resistance 2: 467.8, 18th October.

Resistance 3: 470.0, supply zone.

Support 1: 456.3, support on 60-minute.

Support 2: 443.1, demand area.

Support 3: 431.5, on top of bull flag.

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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