Bitcoin Cash (BCH) Price Analysis: BCH Is Range-Bound, Faces Rejection at $240 High

Bitcoin Cash (BCH) Price Analysis: BCH Is Range-Bound, Faces Rejection at $240 High

Key Highlights
BCH faces selling pressure at the $240 resistance
The current support at $215 is well defended by the bulls

Bitcoin Cash (BCH) Current Statistics
The current price: $234.10
Market Capitalization: $4,335,366,602
Trading Volume: $2,976,837,476
Major supply zones: $325, , $350,$375
Major demand zones: $200, $175, $150

Bitcoin Cash (BCH) Price Analysis September 17, 2020
For the past two weeks, BCH is still range bound between $200 and $240. Presently, it is in a tight range between $215 and $240. Buyers have made several attempts to break the $240 resistance but to no avail. The coin will fall into the range-bound zone and retests the support line. Today, BCH is trading at $234 after retesting the resistance at $240.

The altcoin will have a chance of upside momentum if the coin rebounds above $230 support. The rebound will propel price to break the current resistance and reach a high of $260. Nonetheless, the coin will return to the bull market if buyers push the coin above $280 high. Meanwhile, BCH is still trading in the range. The current range will linger on except the coin trends to break the key levels of the markets.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
Bitcoin Cash is in a descending channel as the price fluctuates in the middle of the channel. The price is testing is the 21-day SMA to break above it. BCH will rise if price breaks above the SMAs. The coin is above the 30% range of the daily stochastic. It indicates that it is in a bullish momentum.

BCH/USD – Daily Chart

Conclusion
The direction of price movement is unclear as the coin continues to consolidate. In recent times, the coin has been exposed to break above the previous highs. It continues to face rejection at the recent highs. If buyers succeed above the current resistance, BCH will escape the range-bound movement. Also, the Fibonacci tool analysis will be invalidated. That is, BCH will not reach the low of 1.272 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
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 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

Bitcoin Cash (BCH) Price Analysis: BCH Consolidates in a Tight Range as Bulls and Bears Are Undecided

Bitcoin Cash (BCH) Price Analysis: BCH Consolidates in a Tight Range as Bulls and Bears Are Undecided

Key Highlights
BCH is trading in a tight range between $215 and $231
BCH will fall and retest $200 if the current support at $215 cracks

Bitcoin Cash (BCH) Current Statistics
The current price: $223.78
Market Capitalization: $4,143,687,655
Trading Volume: $2,433,966,656
Major supply zones: $325, , $350,$375
Major demand zones: $200, $175, $150

Bitcoin Cash (BCH) Price Analysis September 14, 2020
Since September 3, BCH has been trading in a confined range. It is currently at $223 but ranges between $200 and $240. It is unclear if the downtrend will continue because the current support at $200 has been holding since March. The bears have not been able to break it because it has been defended by the bulls.

Currently, BCH is fluctuating in a tight between $215 and $231. This tight range can easily be broken. If the bears break the $215 support, the coin will fall and retest the $200 low. The market will move up at this low if the support holds. On the upside, buyers must push BCH above $280 for the continuation of the uptrend.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
Bitcoin Cash is in a descending channel. The crypto will resume downtrend once the support line of the channel breaks and price closes below it. Similarly, the uptrend will resume if price breaks and closes above the resistance line of the descending channel.

BCH/USD – Daily Chart

Conclusion
The current range-bound movement will linger if the key levels of the market remain unbroken. However, the retraced candle body tested the 78.6 % Fibonacci retracement level. It indicates that the selling pressure will resume and BCH will reach the low of 1.272 Fibonacci extension level or $177 low .



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 result

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 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

Bitcoin Cash (BCH) Price Analysis: BCH Critical Support at $200 Holds as Bulls and Bears Continue Price Tussles

Bitcoin Cash (BCH) Price Analysis: BCH Critical Support at $200 Holds as Bulls and Bears Continue Price Tussles

Key Highlights
BCH is range bound between $200 and $240
BCH may drop to $170 if the $200 support cracks

Bitcoin Cash (BCH) Current Statistics
The current price: $228.42
Market Capitalization: $4,228,779,458
Trading Volume: $2,172,838,456
Major supply zones: $325, , $350,$375
Major demand zones: $200, $175, $150

Bitcoin Cash (BCH) Price Analysis September 10, 2020
Today, BCH is trading at $228 at the time of writing. On September 1, Buyers were attempting to push BCH to the $300 high before they were repelled. On September 3, the coin plunged to $203 low and resumed consolidation above the current support.

At the time of writing, BCH is still fluctuating between $200 and $240. Since March, the current support has not been broken. On the downside, if the bears break the current support, the market will fall to $170 low. On the upside, the bulls must push BCH price above $260, for the resumption of the upside momentum. As of now, price is range bound between $200 and $240.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
BCH is above 20% range of the daily stochastic. It indicates that the coin is in a bullish momentum. However, the stochastic bands are horizontally flat. BCH is likely to fall as price is below the EMAs.

BCH/USD – Daily Chart

Conclusion
For the past week, price has been consolidating above the $200 support. According to the Fibonacci tool, a retraced candle body tested the 78.6% Fibonacci retracement. It indicates that BCH will fall to the 1.272 Fibonacci extension level once $200 support cracks. Thereafter, the market will reverse.



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
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 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

Bitcoin Cash (BCH) Price Analysis: BCH Resumes Consolidation Above $200 Support

Bitcoin Cash (BCH) Price Analysis: BCH Resumes Consolidation Above $200 Support


Key Highlights
BCH plunged to $203 support
The crypto consolidates above $200 support

Bitcoin Cash (BCH) Current Statistics
The current price: $228.58
Market Capitalization: $4,231,117,995
Trading Volume: $2,516,463,133
Major supply zones: $325, , $350,$375
Major demand zones: $200, $175, $150

Bitcoin Cash (BCH) Price Analysis September 7, 2020
Today, Bitcoin Cash is trading at $226 at the time of writing. On September 3, sellers finally plunged the coin to June previous low of $203. The breakdown was massive as the bears broke the $280 support and price found support above $200. The selling pressure is presumed to be over if the current support holds.

However, if the bears break the current support, BCH will decline and tally with March lows of $140. On the upside, a strong bounce above $200 will signal the resumption of an upward move. Buyers have an uphill task as the coin must be pushed above $280 high before the resumption of upside momentum. Meanwhile, BCH is consolidating above $200 support as selling pressure reaches bearish exhaustion.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
BCH will rise once the buyers push the coin above the SMAs. The coin will continue to fall as long as price is below the SMAs. According to the daily stochastic, BCH is still in a bearish momentum below the 40% range.

BCH/USD – Daily Chart

Conclusion
The crypto has almost exhausted the selling pressure as the $200 support holds. Nonetheless, with the retracement 61.8 % Fibonacci, the market will fall and reach 1.618 extension or $200 support. The price action has already reached the presumed price level as the market continues consolidation.


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
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 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

Bitcoin Cash (BCH) Price Analysis:BCH Resumes Downward After a Retest at $260 High

Bitcoin Cash (BCH) Price Analysis:BCH Resumes Downward After a Retest at $260 High

Key Highlights
BCH plunged to $250 low after a breakdown
The coin is at risk of a further downward move below $260 support

Bitcoin Cash (BCH) Current Statistics
The current price: $263.40
Market Capitalization: $4,874,795,372
Trading Volume: $1,887,699,051
Major supply zones: $325, , $350,$375
Major demand zones: $200, $175, $150

Bitcoin Cash (BCH) Price Analysis September 3, 2020
Bitcoin Cash plunged to a $250 low after the bulls failed to push above the $300 high. The crypto is trading at $265 at the time of writing. Buyers have to push price above the EMAs or above the $280 support to resume upside momentum. However, BCH is still in the bearish trend zone and the coin tends to fall below the $260 support.

If sellers have the upper hand, the coin will continue to fall to the low of $240. On the upside, BCH will attempt to break above the $280 high. When the bulls are successful above $280, a retest at the $300 and $320 is likely. In the meantime, the price action is showing signs of bearish signals.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
BCH is in the bearish trend zone as price bars are below the EMAs. The coin will trend fall except it rebounds above the current support. Presently the coin is above the 40% range of the daily stochastic. The market is in a bullish momentum.

BCH/USD – 4 Hour Chart

Conclusion
With the recent break down the coin is recovering above $260 after reaching the low of $250. Meanwhile, a larger uptrend is still intact. According to the Fibonacci tool, the candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates an upward of the coin. The coin will rise and reach 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
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 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

Bitcoin Cash (BCH) Price Analysis: BCH Resumes Uptrend, Struggles to Jump Over $280 Hurdle

Bitcoin Cash (BCH) Price Analysis: BCH Resumes Uptrend, Struggles to Jump Over $280 Hurdle

Key Highlights
BCH rebounds above the $260 low but faces rejection at $280 high
The coin will reach a target price of $366 if the $366 resistance is breached
Bitcoin Cash (BCH) Current Statistics
The current price: $278.20
Market Capitalization: $5,147,952,181
Trading Volume: $1,140,152,311
Major supply zones: $325, , $350,$375
Major demand zones: $200, $175, $150

Bitcoin Cash (BCH) Price Analysis August 31, 2020
On August 25, the bears broke the $280 support to $270 low. After a retest at the $280 high, it dropped to  $260 low. The bulls are making frantic efforts to push the coin to the previous highs. Today, BCH is trading at $278 at the time of writing. The crypto is facing rejection at the $280 high as buyers attempt to push the coin to the previous highs. The coin will achieve price acceleration if the bulls push the coin above $280 resistance or the EMAs. BCH will rise and retest the $320 resistance. Conversely, if the bears break below the current support, the coin will fall to $240 low.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
BCH has risen to level 48 of the Relative Strength Index period 14. The coin is in the downtrend zone and below the centerline 50. The price is attempting to break above the 21-day SMA. If it breaks above the SMAs, the crypto will resume an upward move. At the moment, BCH is struggling to break into the  previous highs.

BCH/USD – 4 Hour Chart

Conclusion
BCH is recovering above $260 support but faces rejection at the $280 high. On August 1 uptrend, BCH was resisted at $320, and the coin retraced to the previous low. A retraced candle body tested the 61.8% Fibonacci retracement level. This implies that the $320 resistance is likely to be broken and the coin will rise to 1.618 Fibonacci extension level. In other words, the crypto will reach a high of $366.



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
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 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

Bitcoin Cash (BCH) Price Analysis: BCH Struggles to Resume Uptrend, Attempts to Break $280 and $320 Range

Bitcoin Cash (BCH) Price Analysis: BCH Struggles to Resume Uptrend, Attempts to Break $280 and $320 Range

Key Highlights
BCH is consolidating between $280 and $320 after retesting the $300 high
BCH rebounded and resumed a fresh uptrend

Bitcoin Cash (BCH) Current Statistics
The current price: $288.26
Market Capitalization: $5,332,336,309
Trading Volume: $1,057,353,790
Major supply zones: $325, , $350,$375
Major demand zones: $200, $175, $150

Bitcoin Cash (BCH) Price Analysis August 24, 2020
Since on August 20, the price action of Bitcoin Cash has remained the same. Bitcoin Cash is still confined between $280 and $320. Buyers are yet to break the $320 resistance. Neither have sellers the opportunity to break the $280 support level. Therefore the coin will continue its range bound movement between $280 and $320. The only change in the price action is that on August 21, buyers attempted to push BCH above the $300 minor resistance.

The bulls were disappointed as they were repelled. BCH fell to the previous low at the $280 support. Today, the coin rebounded above the $280 and it has risen to $290. Buyers may want to retest the $300 and $320 resistance level. Once the $320 resistance is breached, the price movement will be accelerated. The crypto is expected to rally above $340 resistance.

BCH/USD – Daily Chart


Bitcoin Cash Technical Indicators Reading
BCH is above 25% range of the daily stochastic. That is, the coin is in a bullish momentum. The price is rising and attempting to break above the support line of the ascending channel. A break above the support line will propel price to rise and resume the uptrend.

Conclusion
Bitcoin Cash uptrend is intact. Buyers are expected to push BCH above the resistance levels. The coin is expected to reach a new high of $350 if the bulls have the upper hand. Meanwhile, buyers are making a fresh upward move to break the current resistance.

 

  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
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 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

Bitcoin Cash (BCH) Price Analysis: BCH Recovers Above$280 as Sellers Threaten to Short

Bitcoin Cash (BCH) Price Analysis: BCH Recovers Above$280 as Sellers Threaten to Short

Key Highlights
BCH is consolidating between $280 and $320 after retesting the $320 high
BCH will resume uptrend if price breaks $320 resistance

Bitcoin Cash (BCH) Current Statistics
The current price: $407.06
Market Capitalization: $45,694,070,450
Trading Volume: $11,987,531,680
Major supply zones: $325, , $350,$375
Major demand zones: $200, $175, $150

Bitcoin Cash (BCH) Price Analysis August 20, 2020
Bitcoin Cash has fallen to $280 low and resumed upward move to the previous highs. BCH has been trading between $280 and $320 since August 1. The coin is in a sideways trend as buyers fail to breach the $320 resistance. Buyers have made two attempts to push price to the previous highs but were repelled. Each time the coin faces rejection, BCH will fall to $280 support.

Sellers have not penetrated below the $280 support in August. They have also failed to break into the previous highs. Therefore, the crypto has remained in a range-bound movement pending when these key levels are broken. On the upside, BCH will have price acceleration once $320 resistance is broken. The price is expected to rally above $340 high.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
Presently, the crypto has fallen to level 51 of the daily Relative Strength Index Period 14. The coin is in an uptrend and may likely rise. The price has broken the support line of the ascending channel. BCH may further depreciate.

BCH/USD – Daily Chart

Conclusion
From the price action, BCH reached the $320 high and resumed consolidation below the resistance. From the Fibonacci tool, the retraced candle body tested the 78.6% Fibonacci retracement level. This indicates that price will reach level 1.272 Fibonacci or $350 and reverse to 78.6% retracement ($300) where it originated. However, the price action has reversed after testing the $320.


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
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 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

Bitcoin Cash (BCH) Price Analysis: Recovers Above $280 Support, a Target of $380 Likely

Bitcoin Cash (BCH) Price Analysis: Recovers Above $280 Support, a Target of $380 Likely


Key Highlights
BCH recovers and remains stable above $280
The crypto will reach a possible target of $380

Bitcoin Cash (BCH) Current Statistics
The current price: $287.29
Market Capitalization: $5,311,463,732
Trading Volume: $1,729,223,814
Major supply zones: $325, , $350,$375
Major demand zones: $200, $175, $150

Bitcoin Cash (BCH) Price Analysis August 13, 2020
Recently, BCH faces rejection at $320 resistance while trying to break above it. There was a bearish reaction as the market dropped to $269 after breaking below $280 support . Today, BCH has recovered above $280. In the last 24 hours, the price movement has been stable. Besides, price has fallen into the previous range bound zone of $280 and $320. When uptrend resumes, price will retest the $320 resistance to break it. The market will reach a high of $380 if the bulls are successful. Otherwise, the range-bound movement will continue below the resistance.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
The coin is at level 54 of the Relative Strength Index period 14. BCH is in the uptrend zone and above the centerline 50. The coin has the chance of rising. The price is breaking above the 21-day SMA. BCH also has the chance of rising if the price remains above the EMAs.

BCH/USD -Daily Chart

Conclusion
BCH has recovered from the recent breakdown. The price has fallen into the previous range-bound zone. The current uptrend is intact. A red candle body tested the 0.618 or 61.8% Fibonacci retracement level. This gives the clue where price will go. When price breaks the current resistance the market will reach the 1.618 Fibonacci extension level or $380 high.



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
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 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

Bitcoin Cash (BCH) Price Analysis: Struggles in a Tight Range, Eyes the $380 High

Bitcoin Cash (BCH) Price Analysis: Struggles in a Tight Range, Eyes the $380 High

Key Highlights
BCH has continued to fluctuate between $280 and $320
Bitcoin Cash has a target price of $380 if the uptrend resumes

Bitcoin Cash (BCH) Current Statistics
The current price: $306.54 
Market Capitalization: $5,666,513,152
Trading Volume: $1,769,341,099 
Major supply zones: $325, , $350,$375
Major demand zones: $200, $175, $150

Bitcoin Cash (BCH) Price Analysis August 10, 2020
Buyers and sellers are still tussling with price in the $280 and $320 price range. The price consolidation is away from the overhead resistance. The price action is also characterized by small body candlesticks like the Doji and Spinning tops. These candlesticks describe the indecision between buyers and sellers about where the market will trend.

A possible breakout or breakdown is expected. Nonetheless, the bulls have greater chances than the bears as a breakout will catapult the coin to a high of $380 price level. Conversely, where the bulls fail to break the current resistance the market will be compelled to a sideways move below the resistance for a few more days.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
The crypto is rising in an ascending channel. The coin will resume a further upward movement if price breaks and closes above the resistance line. Similarly, BCH will fall if price breaks and closes below the support line. The coin is at level 62 of the Relative Strength Index period 14. It indicates that the price is in the bullish trend zone and may rise.

BCH/USD – Daily Chart

Conclusion
Since price is above the EMAs, BCH has a chance of an upward move. According, to the Fibonacci tool, a red candle tested the 0.618 retracement level. This means that BCH will rise and reach the 1.618 extension level. That is, we should expect the market to reach a high of $380.



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
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 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