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Bitcoin Cash Technical Analysis: BCH/USD flirts around $270-line, reaches highest levels since Apri 2020

BCH/USD bulls took charge but ran out of momentum near the $270-level.
The price has jumped from the red Ichimoku cloud.
The RSI has dipped slightly into the overbought zone.

Rajarshi Mitra Independent Analyst

BCH/USD daily chart

BCH/USD took charge of the market after bouncing up from the support at the red Ichimoku cloud. The price has gone up from $237.73 to $269. After crossing the $270-level for a brief period, it settled back down.

The SMA 20 has crossed over the SMA 50 to chart the bullish cross pattern. The MACD shows increasing bullish momentum, while the RSI has dipped into the overbought zone. The latter indicates that the price has entered the overvalued territory and will face bearish correction soon.

Support and Resistance

BCH/USD has strong resistance levels at $274.45 and $273.222 (SMA 200). On the downside, we have healthy support at $262, $250.50, $236.10 (SMA 20) and $235 (SMA 50).

Key levels

BCH/USD

Overview
Today last price	268.7344
Today Daily Change	20.9916
Today Daily Change %	8.47
Today daily open	247.7428

Trends
Daily SMA20	234.348
Daily SMA50	234.4745
Daily SMA100	238.3554
Daily SMA200	273.0378

Levels
Previous Daily High	257.9909
Previous Daily Low	244.4436
Previous Weekly High	243.4574
Previous Weekly Low	220.3448
Previous Monthly High	269.2895
Previous Monthly Low	204.6275
Daily Fibonacci 38.2%	249.6187
Daily Fibonacci 61.8%	252.8158
Daily Pivot Point S1	242.1273
Daily Pivot Point S2	236.5118
Daily Pivot Point S3	228.5799
Daily Pivot Point R1	255.6746
Daily Pivot Point R2	263.6064
Daily Pivot Point R3	269.2219

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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