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Bitcoin Cash technical analysis: BCH/USD bulls fighting to protect $300 mark

  • Bitcoin Cash price is holding minor gains late on Friday of some 1% in the session.
  • BCH/USD bulls trying to defend the $300 price territory, given the downside pressures. 
  • A big area of demand can be seen running from $350 down the the psychological $300 level.
Bitcoin Cash technical analysis: BCH/USD bulls fighting to protect $300 mark
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  349.78

Relative change:      +2.14%

High:                         361.51

Low:                          336.48

BCH/USD

Overview
Today last price350.5138
Today Daily Change4.7449
Today Daily Change %1.37
Today daily open345.7689
 
Trends
Daily SMA20434.8395
Daily SMA50418.1397
Daily SMA100342.3876
Daily SMA200238.5857
Levels
Previous Daily High389.3355
Previous Daily Low312.3489
Previous Weekly High449.2051
Previous Weekly Low380.4645
Previous Monthly High516.9074
Previous Monthly Low362.9877
Daily Fibonacci 38.2%341.7578
Daily Fibonacci 61.8%359.9266
Daily Pivot Point S1308.9667
Daily Pivot Point S2272.1645
Daily Pivot Point S3231.98
Daily Pivot Point R1385.9533
Daily Pivot Point R2426.1377
Daily Pivot Point R3462.94

BCH/USD 60-minute chart

  • Near-term price action has formed bearish flag structure, via the 60-minute.

BCH/USD daily chart

  • Critical demand zone should be noted from $350-300, where buyers are preventing price from free-falling.

Author

Ken Chigbo

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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