Bitcoin Cash (BCH) Upward Move Is Stalled at $540 Resistance
Login

Bitcoin Cash (BCH) Upward Move Is Stalled at $540 Resistance

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

Azeez Mustapha

Updated:

Key Highlights
BCH has fallen to $387 low
BCH battles resistance at level $540

Bitcoin Cash (BCH) Current Statistics
The current price: $494.93
Market Capitalization: $10,394,679,319
Trading Volume: $10,394,679,319
Major supply zones: $700, $720, $740
Major demand zones: $250, $230, $210

Bitcoin Cash (BCH) Price Analysis July 5, 2021
Since June 23, Bitcoin Cash (BCH) has been making upward moves. For the past week, BCH has risen from the low of $387 to a high of $540. The upward move has been repelled at the resistance of $540. Buyers could not penetrate the recent high as BCH retraces after the second rejection. The market will continue its rise if the bulls break the resistance at $540. Meanwhile, on June 29 uptrend; a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that BCH will rise to level 1.618 Fibonacci extension or level $619.06.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
BCH has risen to level 42 of the Relative Strength Index period 14. It indicates the market is still in the downtrend zone and below the centerline line 50. The altcoin is capable of falling in the bearish trend zone. Also, the altcoin is below the 20% range of the daily stochastic. BCH has fallen to an oversold region.

BCH/USD – 4 Hour Chart

Conclusion
Bitcoin Cash is rising on the upside. The crypto’s price is consolidating above the $430 support. Meanwhile, on July 3 uptrend; a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that BCH will rise to level 1.618 Fibonacci extension or level $ 538.33. From the price action, BCH has retested the 1.618 Fibonacci extensions and fallen to the $489 low.


You can purchase crypto coins here: Buy Tokens


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