Bitcoin Cash (BCH) Price Analysis: BCH Breaches the $380 Overhead Resistance as the Market Reaches the $467 High

Azeez Mustapha
5 January 2021 | Updated: 5 January 2021

Key Highlights
The bulls have broken the $380 overhead resistance
BCH has risen to a high of $467

Bitcoin Cash (BCH) Current Statistics
The current price: $414.11
Market Capitalization: $8,696,292,777
Trading Volume: $8,906,489,958
Major supply zones: $400, $420, $440
Major demand zones: $250, $230, $210

Bitcoin Cash (BCH) Price Analysis January 4, 2021
BCH bulls have broken the $380 overhead resistance as the market reaches a high of $434. On January 3, the uptrend reached a high of $467 but was resisted. BCH fell to the support above $380 and resumed a fresh uptrend. BCH is rising and approaching the $440 price level. BCH will attain a new high of $520 if the $440 resistance is breached.

BCH/USD – 4 Hour Chart

Bitcoin Cash Technical Indicators Reading
Bitcoin Cash is above the 80% range of the daily stochastic. The coin is in a bullish momentum. The SMAs are sloping northward indicating an uptrend. The price bars above the SMAs indicating that the crypto will rise.

BCH/USD – Daily Chart

Conclusion
The Fibonacci tool has indicated an upward movement of the coin. On December 28 uptrend; the retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that BCH is likely to rise and reach level 1.272 Fibonacci extension and reverse. That is the coin will rise to a high of $407.68.


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

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Azeez Mustapha

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.