Bitcoin Cash’s (BCH), price has given rise to hope. USDT Tether As it tries to turn key resistance with sights on $200, Bitcoin Cash has seen a decline in value over the past weeks as other altcoins surged and saw gains exceedingly large, while BCH remains stable. (Data from Binance).
Bitcoin Cash (BCH). Price Analysis on the Weekly Chart
This chart shows that the weekly low price for BCH was $112. The price has since bounced and rallied to $130 following strong recovery indicators in the recent weeks.
BCH’s weekly candle closed with bearish sentiment, with the new week’s candle looking bullish, showing signs of strength after rejection from $135.
As it tries to maintain key support, the price has not been able to get traction.
The weekly BCH price could return to $135 if it maintains its current structure. This would be support for the range above. This support zone must be broken and held in order to prevent BCH from falling below.
Weekly resistance for the price of BCH – $135.
Weekly support for the price of BCH – $112.
BCH on the Daily (1D), Chart
BCH prices could move to the upside if more buyers place orders. BCH could see a breakout or retest, which would indicate a stronger uptrend.
BCH is bullish and the price must break the wedge to confirm it.
BCH prices have shown strength and stability in this structure. If bulls intervene, BCH may trend higher towards $200.
BCH currently trades at $131. That’s just below its 50 Exponential Movement Average (EMA), or $135.
Relative Strength Index (RSI), for BCH’s price, can be seen on the daily charts. It is above 50. That indicates buy orders.
Daily (1D) resistance for BCH price – $135.
Daily (1D) support for BCH price – $112.
Pricing Analysis for BCH in The Four-Hourly Chart (4H)
BCH’s price has maintained a bullish pattern above its 50 and 200 EMA price levels, which correspond to $130, $125 and respectively act as support and resistance for BCH prices.
BCH will fail to break above $135 and may hold at $125 if it does not. If there is sell-off, the price could retest $112 as support.
Four-Hourly (4H) resistance for BCH price – $135.
Four-Hourly (4H) support for BCH price – $125, $112.
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