Bitcoin Cash (BCH) Now Trades Above the $400 Price Mark
Login

Bitcoin Cash (BCH) Now Trades Above the $400 Price Mark

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more



While the Bitcoin Cash market has been bullish in recent times, today’s trading session has witnessed a much more significant version of bullishness. This has thrust the price through the roof. Yet, price action seems ready for more upside movements. However, it is advisable to always examine the signs before making trading decisions in a market.

Bitcoin Cash Statistics:
Current BCH Value: $403.4
BCH Market Cap: $8,088,880,139
Bitcoin Cash Circulating Supply: 19,657,200 BCH
Bitcoin Cash Total Supply: 19,657,200 BCH
CoinMarketCap Rank: 19

Key Price Levels:
Resistance: $403.5, $420, and $440
Support: $400, $380, and $360

Bitcoin Cash (BCH) Now Trades Above the 0 Price Mark

Bitcoin Cash Bullishness May Attract Moderate Headwinds

BCH price action has witnessed significant movements in today’s trading, as mentioned earlier. In fact, this seems like the most significant price move in recent times.

The token now trades outside the uppermost limit of the Bollinger Bands. Also, the Moving Average Convergence Divergence (MACD) indicator lines have taken a steeper upside trajectory in response to the massive price increase in the market. Meanwhile, the bars of the MACD remain solid green, which suggests that the bullish momentum in the market is quite strong at the moment. Nevertheless, the last price candle on the chart has an upper shadow, which shows that headwinds are already fighting back in the market.

Bitcoin Cash (BCH) Now Trades Above the 0 Price Mark BCH Bulls Are Looking Strained

In the Bitcoin Cash 4-hour market, we can easily see that another session has begun already, and bulls have managed to remain in the lead. However, it should be noted that the ongoing session has been having a tough time progressing upwards above the $400 price mark. The corresponding price candle suggests that downward and upward forces are in a face-off. As a result, this may cause bulls to weary out.

Nevertheless, the MACD lines continue trending upward, while its bars are still appearing tall above the equilibrium level. Therefore, while traders may choose to remain positive and keep using crypto signals with targets near the $420 mark, they must take the necessary precautions.

Trade crypto coins on AvaTrade

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News