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Bitcoin Cash technical analysis: BCH/USD struggles to stay above $220 as cryptos slash gains

  • Bitcoin Cash bulls return in full swing following the rejection at $240.
  • The prevailing short-bearish trend to remain strong amid high volatility levels.
Bitcoin Cash technical analysis: BCH/USD struggles to stay above $220 as cryptos slash gains
John IsigeJohn IsigeFXStreet

Spot rate: $225

Relative change: -4.6

Percentage change: 2%

Open: $230

High: $235

Low: $223

Trend: Strongly bearish (short-term).

BCH/USD weekly chart

Bitcoin Cash trading above a 10-months long-term trendline likely to give way for a reversal above $300.

The upside is limited by the 50 Simple Moving Average on the weekly chart.

BCH/USD daily chart

The full stochastic nears oversold levels hinting a reversal in the near-term.

The biggest task for the bulls is to defend $220 support and focus on the return to $240.

BCH/USD hourly chart

The ascending trendline remains in place to offer support despite the correction from the recent highs.

Bitcoin Cash digs deeper into the Bollinger Bands but the lower curve is offering support to the building bullish momentum.

BCH/USD

Overview
Today last price226.1581
Today Daily Change-4.1209
Today Daily Change %-1.79
Today daily open230.279
 
Trends
Daily SMA20238.0096
Daily SMA50276.215
Daily SMA100304.8289
Daily SMA200323.6083
 
Levels
Previous Daily High240.3
Previous Daily Low229.3194
Previous Weekly High235.7682
Previous Weekly Low212.0442
Previous Monthly High333.7339
Previous Monthly Low202.6094
Daily Fibonacci 38.2%233.514
Daily Fibonacci 61.8%236.1054
Daily Pivot Point S1226.2989
Daily Pivot Point S2222.3188
Daily Pivot Point S3215.3183
Daily Pivot Point R1237.2796
Daily Pivot Point R2244.2801
Daily Pivot Point R3248.2602

Author

John Isige

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

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