Bitcoin Cash (BCH) Price Analysis: Bch Regains Bullish Momentum, May Retest the $360 Overhead Resistance

1 December 2020 | Updated: 1 December 2020

Key Highlights
BCH rebounds, reach the high of $316
The coin is likely to reach the target price of $440

Bitcoin Cash (BCH) Current Statistics
The current price: $313.29 
Market Capitalization: $5,839,272,992
Trading Volume: $3,886,823,482
Major supply zones: $325, , $350,$375
Major demand zones: $200, $175, $150

Bitcoin Cash (BCH) Price Analysis November 30, 2020
Bitcoin Cash rebounds above $260 after recovering the earlier breakdown. BCH has earlier plunged to a $265 low from the peak price of $360. The crash was as a result of the inability of the bulls to break the resistance at $360. Today, BCH has recovered and it is trading at $316. The coin is likely to retest or break the overhead resistance. The upward move is likely to continue as price breaks above the SMAs. BCH will be compelled to a sideways move if the bulls fail to break the overhead resistance.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
BCH price breaks above the resistance line of the ascending channel and closes above it. It indicates the upward movement of the coin. The coin is at level 59 of the Relative strength index period 14. It indicates that it is in the uptrend zone above the centerline 50.

BCH/USD – 4 Hour Chart

Conclusion
BCH is in a fresh uptrend. The Fibonacci tool has indicated a further upward movement of the coin. On November 21 uptrend, a retraced candle body tested the 50%% Fibonacci retracement level. The retracement indicates that BCH is likely to rise and reach level 2.0 Fibonacci extensions. That is a high of $383.20.


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.