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Bitcoin Cash technical analysis: BCH/USD falter at a critical area of resistance

  • Bitcoin Cash price on Monday is trading in minor positive territory with minor gains of over 0.55%.
  • BCH/USD bulls are struggling with heavy supply around $450 price area.
  • Price action via the daily chart view is supported by a long-running ascending trend line.
Bitcoin Cash technical analysis: BCH/USD falter at a critical area of resistance
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 429.11

Relative change:      +0.55%

High:                         439.55

Low:                          425.11

BCH/USD 60-minute chart

  • The price near-term is being comforted by an ascending trend line of support via the 60-minute.

BCH/USD daily chart

  • The bulls continue to have much difficulty breaking down supply around $450 territory.

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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