Bitcoin Cash (BCH) Price Analysis: BCH Fluctuates Between $430 and $500, Uptrend is Likely


Key Highlights
BCH is now fluctuating between $430 and $505
The sideways trend is characterized by indecisive small body candlesticks

Bitcoin Cash (BCH) Current Statistics
The current price: $495.88
Market Capitalization: $10,408,023,970
Trading Volume: $5,852,209,328
Major supply zones: $400, $420, $440
Major demand zones: $250, $230, $210

Bitcoin Cash (BCH) Price Analysis January 14, 2021
Following the breakdown on January 11, BCH is now in a range-bound movement. Today, the price tested the $505 high and continued the sideways move. On January 12, the altcoin has earlier tested the $505 resistance and was repelled. The coin fell to $433 low. The crypto is fluctuating between levels $430 and $505 price range. Buyers have failed to continue with the uptrend. To resume upside momentum, buyers must break the resistance at $500 and moved up to retest the overhead resistance at $632.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
After the recent breakdown, the price tested the trend line and rebounded above it. This is an indication of a further upward movement of the coin. However, if price has broken the trend line, BCH will resume a downward move.

BCH/USD – Daily Chart

After the recent breakdown, the Fibonacci tool has indicated a further upward movement of the coin. On January 10 uptrend; the retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that BCH is likely to rise to level 2.0 Fibonacci extensions. That is, BCH will rise to a high of $1,037.30.

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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.