Bitcoin Cash (BCH) Price Analysis: BCH Battles the Resistance at $280, May Resume Uptrending
Login

Bitcoin Cash (BCH) Price Analysis: BCH Battles the Resistance at $280, May Resume Uptrending

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

Azeez Mustapha

Updated:

Key Highlights
Bitcoin Cash faces strong rejection at $280 resistance
BCH has a target price of $300.30

Bitcoin Cash (BCH) Current Statistics
The current price: $265.24
Market Capitalization: $4,924,877,755
Trading Volume: $1,997,187,783
Major supply zones: $325, , $350,$375
Major demand zones: $200, $175, $150

Bitcoin Cash (BCH) Price Analysis November 09, 2020
Bitcoin Cash has been trading consistently above the $250 support. Yesterday, buyers fail to push BCH above the $280 resistance. This has been the market scenario. A similar attempt was made on November 2 as the coin faced rejection at the $271 high. The coin plunged to a $233 low. Later, the price was corrected upward to $245.

The bullish momentum extended above the critical support at $250. On the upside, if the coin makes a strong bounce above the current support, a rally above $280 is likely. Nevertheless, if the bulls fail to break this resistance, the coin will return to its sideways move. That is the crypto will resume sideways move between $250 and $280.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
BCH is at level 51 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. The 21-day SMA and 50-day SMA are sloping northward indicating the uptrend.

BCH/USD – Daily Chart

Conclusion
Bitcoin Cash will make a further upward move if the $280 resist6ance is broken. On October 15 uptrend the retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the market will reach the level 1.618 Fibonacci extension level.



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
  • 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