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BCH faces rejection at the $360 resistance
BCH slumps to $256 after rejection.
Cash BitCoin (BCH) Current statistics
In current price: $ 269.66
Forum Capitalisation: 5,011,228,966 $
Latin Edition Trading: 4,688,887,163 $
Major copia zonae: $ CCCXXV,: $ CCCL: $ CCCLXXV
Demanda major plaga: $ 200, 175 $, $ 150
Cash BitCoin (BCH) Price Analysis November XXVII, MMXX
Today, BCH is trading at $256 after rejection at the $360 overhead resistance. The recent upward move was as a result of the bulls breaching the resistance at $280 r. The breakout propelled the coin to reach the $ 360 high but the uptrend was short-lived. The crypto was repelled because of an overwhelming selling pressure above the recent high. Presently, the bulls have bought the dips as the coin resumes an upward move. Buyers will want to retest the $360 resistance to breaking above it. If buyers are successful, BCH will reach a high of $440.
Cash BitCoin Technical lectio Indicatores
BCH has fallen below the 20% range of the daily stochastic. It implies that the coin is in the oversold region of the market. Buyers are likely to emerge to push the coin upward. The price bars are below the SMAs which suggest a downward movement of the coin.
Conclusio
The recent breakdown has invalidated the Fibonacci tool analysis. BCH is resuming a fresh uptrend after the recent breakdown. The crypto will rise to retest the $260 and $280price levels. A break above these levels will catapult the coin to reach the $360 high. In the meantime, the coin has risen to $273.53
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