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.
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.
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
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.