The crypto market is recovering from the recent bearish phase. At the time of writing, BTC price broke the $10k resistance and is currently trading at $10,125.70 with a 6% growth. Bitcoin cash (BCH) is leading in terms of growth with more than a 9% rise.
According to Coinmarketcap data, the BCH coin holding 5th position is currently trading at $265.99 USD. In terms of BCH/BTC, there is 3.43% growth trading at 0.02626885 BTC.
The BCH coin is currently holding a market cap value of $4,900,561,473 USD with $4,184,587,009 USD 24hr- volume and 18,423,831 BCH circulating supply. Bitcoin Cash is ready to set a new weekly high price level as it is heading to run above the $262 mark. The price is just above $262, and further upside rally seems probable this time.
Bitcoin Cash Technical Analysis
BCH is now evaluating the 1.236 Fib extension level of the last crucial decrease from the $255 swing high to $220 low. There is likewise a significant bullish pattern line forming with assistance near $246 on the 4-hours chart of the BCH/USD set.
The present rate action is really bullish, recommending more gains in the near term above $265 An instant resistance is near the $270 level. The very first significant resistance is near the $275 zone (the last crucial resistance). It is likewise near to the 1.618 Fib extension level of the last crucial decrease from the $255 swing high to $220 low.
If bitcoin money rises above the $270 and $275 resistance levels, the bulls are most likely to intend a test of the $300 resistance zone. An intermediate resistance might be near the $288 level.
- Hourly MACD– The MACD for BCH/USD is presently getting speed in the bullish zone.
- Hourly RSI (Relative Strength Index)– The RSI for BCH/USD is now well above the 60 levels, with a bullish angle.
- Key Support Levels– $255 and $245
- Key Resistance Levels– $275 and $300