Bitcoin Cash (BCH) Price Analysis: BCH Rallies to $715 High, Slumps and Finds Support Above $670 Low

12 April 2021 | Updated: 12 April 2021

Key Highlights ``
BCH rallied to $715 high but faces rejection at the recent high
There is the possibility of further downward movement

Bitcoin Cash (BCH) Current Statistics
The current price: $693.12
Market Capitalization:  $14,546,905,387
Trading Volume: $3,288,253,668
Major supply zones: $700, $720, $740
Major demand zones: $250, $230, $210

Bitcoin Cash (BCH) Price Analysis April 12, 2021
Bitcoin Cash is in an uptrend. Recently, BCH rose to $715 high and was resisted. The market is retracing to the support of the previous resistance level. Meanwhile, on April 7, retraced candle body tested the 61.8% Fibonacci retracement level. The retracement gives the impression that BCH will rise to level 1.618 Fibonacci extension or the high of $813.77.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
BCH is at level 65 of the Relative Strength Index period 14. This implies that the coin is approaching the overbought region of the market. It may have insufficient room to rally on the upside. BCH has a bullish crossover. That is the 21-day SMA crosses above 50-day SMA which is a bullish signal.

BCH/USD – 4 Hour Chart

Conclusion
Bitcoin Cash is facing rejection at $715 as the altcoin fell to $669 low. There is the possibility of further downward movement of price. On April 11 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that BCH will fall to level 1.618 Fibonacci extension or the low of $642.17.

You can purchase crypto coins here: Buy Coins

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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

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.