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Bitcoin Cash technical analysis: Can bulls break past $500?

  • BCH/USD went up from $441.50 to $448 so far this Saturday.
  • Bulls will need to break past resistance at $475.
Bitcoin Cash technical analysis: Can bulls break past $500?
Rajarshi MitraRajarshi MitraIndependent Analyst

BCH/USD daily chart

BCH/USD has found support on the upward trending line and the 20-day simple moving average (SMA 20) curve. The market is trending above the SMA 50 and SMA 200 curves. The SMA 50 is en route to intersect with SMA 20, which is a bearish sign. The moving average convergence/divergence (MACD) indicator shows two straight bullish sessions.

BCH/USD 4-hour chart

The 4-hour market is trending comfortably above the green Ichimoku cloud. The Elliot oscillator has had seven straight bullish sessions. This shows that the sentiment in the 4-hour price chart is bullish.

BCH/USD hourly chart

The hourly BCH/USD price went above the 20-day Bollinger band curve showing that it is overvalued and may face correction soon. The widening of the Bollinger band shows increasing market volatility. The SMA 50 curve has crossed over to the SMA 200 curve, which is a bullish sign. The relative strength index (RSI) indicator is trending in the overbought zone around 78

Key Levels

BCH/USD

Overview
Today last price449
Today Daily Change7.6600
Today Daily Change %1.74
Today daily open441.34
 
Trends
Daily SMA20408.5574
Daily SMA50385.3362
Daily SMA100310.0264
Daily SMA200221.3874
Levels
Previous Daily High443.7
Previous Daily Low412.88
Previous Weekly High443.7
Previous Weekly Low402.4455
Previous Monthly High483.1092
Previous Monthly Low261.4551
Daily Fibonacci 38.2%431.9268
Daily Fibonacci 61.8%424.6532
Daily Pivot Point S1421.58
Daily Pivot Point S2401.82
Daily Pivot Point S3390.76
Daily Pivot Point R1452.4
Daily Pivot Point R2463.46
Daily Pivot Point R3483.22

Author

Rajarshi Mitra

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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