Bitcoin Cash Analysis: Bulls Aim Massive Breakout Above $300

Bitcoin cash price started a fresh increase above the $255 and $280 resistance levels against the US Dollar. The price even tagged the $300 resistance area and it is currently consolidating gains. There is a key bullish trend line forming with support near $285 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase). The pair is likely to surge again if it clears the $300 resistance in the near term. Bitcoin cash price is trading in a strong uptrend above $280 against the US Dollar. BCH/USD is likely to continue higher above $300 and $305 in the coming sessions. Bitcoin Cash Price Analysis Earlier this week, bitcoin cash price surged above the $270 and $280 resistance levels against the US Dollar. BCH price even settled above the $280 level and the 55 simple moving average (4-hours). Finally, it gained bullish momentum above $290 and tested the $300 resistance zone. A new monthly high is formed near $300 and the price is currently consolidating gains. It corrected below the $295 and $290 levels. Besides, there was a break below the 23.6% Fib retracement level of the recent upward move from the $244 swing low to $300 high. However, the price is trading nicely above the $280 support zone (resistance turned support). There is also a key bullish trend line forming with support near $285 on the 4-hours chart of the BCH/USD pair. Below the trend line, the next major support is near the $272 level. It represents the 50% Fib retracement level of the recent upward move from the $244 swing low to $300 high. Any further losses may perhaps lead the price towards the $260 support level or the 55 simple moving average (4-hours). On the upside, the $295 and $300 levels are immediate hurdles for the bulls. A successful break above the $300 barrier might open the doors for a fresh increase. In the mentioned case, the price could easily drift towards the $320 and $325 resistance levels. Bitcoin Cash Price Looking at the chart, bitcoin cash price is clearly trading in a nice uptrend above the $280 and $272 support levels. Therefore, the price is likely to surge again if it clears the $300 resistance in the near term. Technical indicators 4 hours MACD – The MACD for BCH/USD is currently gaining momentum in the bullish zone. 4 hours RSI (Relative Strength Index) – The RSI for BCH/USD is now below the 60 level. Key Support Levels – $280 and $272. Key Resistance Levels – $300 and $320. Tags: BCH, Bitcoin Cash

Bitcoin Cash Analysis: Bulls Aim Massive Breakout Above $300
  • Bitcoin cash price started a fresh increase above the $255 and $280 resistance levels against the US Dollar.
  • The price even tagged the $300 resistance area and it is currently consolidating gains.
  • There is a key bullish trend line forming with support near $285 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase).
  • The pair is likely to surge again if it clears the $300 resistance in the near term.

Bitcoin cash price is trading in a strong uptrend above $280 against the US Dollar. BCH/USD is likely to continue higher above $300 and $305 in the coming sessions.

Bitcoin Cash Price Analysis

Earlier this week, bitcoin cash price surged above the $270 and $280 resistance levels against the US Dollar. BCH price even settled above the $280 level and the 55 simple moving average (4-hours).

Finally, it gained bullish momentum above $290 and tested the $300 resistance zone. A new monthly high is formed near $300 and the price is currently consolidating gains. It corrected below the $295 and $290 levels.

Besides, there was a break below the 23.6% Fib retracement level of the recent upward move from the $244 swing low to $300 high. However, the price is trading nicely above the $280 support zone (resistance turned support).

There is also a key bullish trend line forming with support near $285 on the 4-hours chart of the BCH/USD pair. Below the trend line, the next major support is near the $272 level. It represents the 50% Fib retracement level of the recent upward move from the $244 swing low to $300 high.

Any further losses may perhaps lead the price towards the $260 support level or the 55 simple moving average (4-hours). On the upside, the $295 and $300 levels are immediate hurdles for the bulls.

A successful break above the $300 barrier might open the doors for a fresh increase. In the mentioned case, the price could easily drift towards the $320 and $325 resistance levels.

Bitcoin Cash Price

Bitcoin Cash Price

Looking at the chart, bitcoin cash price is clearly trading in a nice uptrend above the $280 and $272 support levels. Therefore, the price is likely to surge again if it clears the $300 resistance in the near term.

Technical indicators

4 hours MACD – The MACD for BCH/USD is currently gaining momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for BCH/USD is now below the 60 level.

Key Support Levels – $280 and $272.

Key Resistance Levels – $300 and $320.

Tags: BCH, Bitcoin Cash

What's Your Reaction?

like
0
dislike
0
love
0
funny
0
angry
0
sad
0
wow
0
Coinslice is cryptocurrency news portals that present the latest news in the cryptocurrency and blockchain niche. Stay updated with the latest price analysis of major cryptocurrencies & various blockchain news. For cooperation inquiries contact: [email protected]

We use cookies to personalize content and ads, to provide social media features and to analyze our traffic. You consent to our cookies if you continue to use our website.