Bitcoin Cash Technical Analysis: BCH/USD bulls retreat from the $300-level

BCH/USD bulls have stayed in control for the second straight day.
The daily price chart shows strong resistance levels at $302.45 and $310.45.

Rajarshi Mitra Independent Analyst

BCH/USD daily chart

BCH/USD stayed in control of the market for the second straight day as the price went up from $284.78 to $294.25. The price reached intraday highs of $297.65 before the bulls commenced their retreat. The MACD shows increasing bearish market momentum. The relative strength index (RSI) is trending around 57.15.

BCH/USD has strong resistance levels at $302.45 and $310.45. On the downside, we have five healthy support levels at $289.90 (SMA 20), $281.50, $271.25 (SMA 200), $258.68 and $254.50 (SMA 50).

Key levels

BCH/USD

Overview
Today last price	292.8711
Today Daily Change	8.0745
Today Daily Change %	2.84
Today daily open	284.7966

Trends
Daily SMA20	287.1488
Daily SMA50	252.6286
Daily SMA100	247.3366
Daily SMA200	271.6492

Levels
Previous Daily High	290.2806
Previous Daily Low	270.9403
Previous Weekly High	338.2532
Previous Weekly Low	244.1306
Previous Monthly High	306.6192
Previous Monthly Low	215.8202
Daily Fibonacci 38.2%	282.8926
Daily Fibonacci 61.8%	278.3283
Daily Pivot Point S1	273.731
Daily Pivot Point S2	262.6655
Daily Pivot Point S3	254.3907
Daily Pivot Point R1	293.0714
Daily Pivot Point R2	301.3461
Daily Pivot Point R3	312.4117

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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Bitcoin Cash Technical Analysis: BCH/USD bulls retreat from the $300-level