Bitcoin Cash Analysis: Dips Turn Attractive Near $140

Bitcoin Cash Price Analysis

Bitcoin Cash Analysis: Dips Turn Attractive Near $140

Bitcoin cash price started a fresh increase from the $112 zone against the US Dollar.
The price is now trading above the $140 zone and the 55 simple moving average (4-hours).
There was a break above a key rising channel with resistance near $140 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase).
The pair must clear $160 and $165 to continue higher in the near term.

Bitcoin cash price is climbing above $140 against the US Dollar, similar to bitcoin. BCH/USD could start a fresh surge if it clears the $160 level.
Bitcoin Cash Price Analysis
Bitcoin cash price formed a decent support base above the $112 level. BCH started a fresh increase and was able to clear the $120 resistance zone.
The price climbed above the $130 and $132 resistance levels. There was a break above a key rising channel with resistance near $140 on the 4-hours chart of the BCH/USD pair. It even broke the $150 level and the 55 simple moving average (4-hours).
It traded as high as $159.42 and is currently consolidating gains. There was a move below the $155 support. The pair tested the 23.6% Fib retracement level of the recent wave from the $113 swing low to $159 high.
An immediate resistance is near the $158 level. The first major resistance is near the $160 level. Any more gains above $158 and $160 could set the pace for a move towards the $170 level. If there is a move above the $170 resistance, the price could rise towards the $180 zone.
An immediate support on the downside is near the $148 zone. The next major support is near the $140 level, below which the bears might aim $138 or the 50% Fib retracement level of the recent wave from the $113 swing low to $159 high. The next target for them may perhaps be near the $125 level.
Bitcoin Cash Price
Looking at the chart, bitcoin cash price is now trading above the $140 zone and the 55 simple moving average (4-hours). Overall, the price must clear $160 and $165 to continue higher in the near term.
Technical indicators
4 hours MACD – The MACD for BCH/USD is gaining pace in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for BCH/USD is well above the 50 level.
Key Support Levels – $148 and $140.
Key Resistance Levels – $158 and $160.

Tags: BCH, Bitcoin Cash

Leave a Reply

Your email address will not be published.

New Brokers
2.8 rating
Buy & sell Crypto in minutes
3.0 rating
Note: Investing involves risks. You can lose your deposit. We advise you to only invest in financial products which match your knowledge and experience.
2.0 rating
Interactive Brokers attracts active traders with low per-share pricing, an advanced trading platform.
4.3 rating
eToro is the world’s leading social trading platform, with thousands of options for traders and investors.
AdonFinance
Risk Warning: The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory or other services by AdonFinance. In addition, the content of the website offers no opinion with respect to the suitability of any security or any specific investment. Trading foreign exchange, stocks, cryptocurrencies and commodities is potentially high risk and may not be suitable for all investors. The high level of leverage can work both for and against traders. Before any investment with any broker you need to carefully consider your targets, previous experience, and risk level. Forex trading can result in the loss of your money, as a result, you are expressly cautioned that you should never invest or trade with money that you cannot afford to lose. For the avoidance of doubt, AdonFinance's service provides Brokers reviews in the Financial market. AdonFinance, its subsidiaries, agents or affiliates will assume no responsibility whatsoever for your trading activity. © Copyright 2021 AdonFinance