Bitcoin Cash Price Analysis: Can BCH/USD Hold This Support?

2018-7-19 07:08

Key Points Bitcoin cash price started a downside correction and declined below $840 against the US Dollar. This week’s highlighted major bullish trend line was breached with support near $830 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is currently testing a crucial support near $800 and it remains at a risk of more declines.

Bitcoin cash price corrected sharply lower from $890 against the US Dollar. BCH/USD must stay above the $800 support to avoid further slides.

Bitcoin Cash Price Support

Yesterday, we saw a major upside move above the $850 resistance in bitcoin cash price against the US Dollar. The BCH/USD pair traded towards the $900 level and a high was formed near $890. Later, the price started a downside correction and broke the $860 and $840 support levels. It even broke the 61.58% Fib retracement level of the last leg from the $780 low to $890 high.

Moreover, this week’s highlighted major bullish trend line was breached with support near $830 on the hourly chart of the BCH/USD pair. The pair is currently testing an important support near the $800 level, which was a resistance earlier. If the price recovers from the $800 support, it could face resistance near the $825 level. It is the 23.6% Fib retracement level of the last decline from the $890 high to $804 low. Above $825, the price will resume it upside move towards the $850 and $860 levels.

Looking at the chart, the price is at a risk of a downside break below the $800 support level. The next major support on the downside is near the $785 level and the 100 hourly simple moving average. Overall, the price remains in an uptrend as long as it is above $780 and the 100 hourly SMA.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD has moved into the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is now well below the 40 level.

Major Support Level – $800

Major Resistance Level – $825

The post Bitcoin Cash Price Analysis: Can BCH/USD Hold This Support? appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Cashcoin (CASH) на Currencies.ru

$ 0.0004289 (+0.63%)
Объем 24H $2
Изменеия 24h: -19.83 %, 7d: -30.46 %
Cегодня L: $0.0004262 - H: $0.0005443
Капитализация $22.93k Rank 999999
Цена в час новости $ 0.0109736 (-96.09%)

support usd bch price bitcoin cash pair

Источник: newsbtc.com

support usd → Результатов: 126


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Spanish City Lebrija Launches Local Virtual Currency ‘Elio’

The city council of Lebrija has created a virtual currency ‘Elio’ that can only be used for payments made to small and medium businesses, according to a report by Diario de Sevilla. Read more: Spain’s Second-Largest Bank Will Soon Launch Crypto Services: Sources

Bitcasino Announces XRP Support, Bringing Fast Transactions and Low Fees to the Game

Bitcoin Press Release: Leading bitcoin casino Bitcasino has added support for the third largest cryptocurrency XRP, allowing all platform users to bet with ripple.    16 April 2020 – The world’s first licensed Bitcoin-led casino operator, Bitcasino, now accepts Ripple payments, making XRP the next cryptocurrency to enjoy the casino’s wide range of games.