Bitcoin Cash technical analysis: BCH/USD bulls must breakdown a big barrier at $450 for greater upside

Bitcoin Cash price in the second half of the session on Monday is trading in the green up with gains of over 1%.
BCH/USD bulls are attempting to breakdown heavy supply around $450 price area.
A surge of life came back into play for the bulls during the session on Sunday, seen across the market.

Ken Chigbo Independent Analyst

Spot rate: 438.25

Relative change: +1.15%

High: 447.70

Low: 425.59

BCH/USD

Overview
Today last price	437.2
Today Daily Change	3.7150
Today Daily Change %	0.86
Today daily open	433.485

Trends
Daily SMA20	366.9352
Daily SMA50	318.5459
Daily SMA100	236.3336
Daily SMA200	216.1462

Levels
Previous Daily High	438.2294
Previous Daily Low	390.8874
Previous Weekly High	446.9992
Previous Weekly Low	356.3055
Previous Monthly High	352.3611
Previous Monthly Low	166.4624
Daily Fibonacci 38.2%	420.1447
Daily Fibonacci 61.8%	408.972
Daily Pivot Point S1	403.5052
Daily Pivot Point S2	373.5253
Daily Pivot Point S3	356.1633
Daily Pivot Point R1	450.8471
Daily Pivot Point R2	468.2092
Daily Pivot Point R3	498.189

BCH/USD 60-minute chart

The significance of the $450 can be observed via the 60-minute view, where the price has faltered on several occasions this month.

BCH/USD daily chart

Bulls are attempting to breakdown a large barrier that can be seen at $450 price territory, looking like the gateway to further potential upside.

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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