Bitcoin Cash price started a major increase above the $350 resistance. BCH is consolidating and might aim for more gains above the $385 resistance. Bitcoin cash price started a fresh increase above the $350 level. The price is trading above $365 and the 100-hour simple moving average. There is a connecting bullish trend line forming with support at $355 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair could start another increase if it clears the $380 resistance zone. Bitcoin Cash Price Starts Fresh Surge After forming a base above the $315 level, Bitcoin Cash price started a fresh increase. BCH outpaced Bitcoin and Ethereum to gain over 20%. There was a clear move above the $350 resistance zone. The price even surpassed $365 and tested the $385 resistance zone. A high was formed near $385.95 and the price is now correcting gains. There was a minor move below the $375 level. The price dipped and tested the 23.6% Fib retracement level of the upward move from the $318.02 swing low to the $385.95 high. Bitcoin cash price is now trading above $365 and the 100-hour simple moving average. There is also a connecting bullish trend line forming with support at $355 on the hourly chart of the BCH/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $318.02 swing low to the $385.95 high. Immediate resistance on the upside sits near the $380 level. A clear move above the $380 resistance might start a decent increase. The next major resistance is $385, above which the price might accelerate higher toward the $400 level. Any further gains could lead the price toward the $420 resistance zone. Fresh Drop in BCH? If Bitcoin Cash price fails to clear the $380 resistance, it could start a fresh decline. Initial support on the downside is near the $365 level. The next major support is near the $355 level or the trend line. If the price fails to stay above the $355 support, the price could test the $340 support. Any further losses could lead the price toward the $332 zone in the near term. Technical indicators 4-hour MACD – The MACD for BCH/USD is losing pace in the bullish zone. 4-hour RSI (Relative Strength Index) – The RSI is currently above the 50 level. Key Support Levels – $365 and $355. Key Resistance Levels – $380 and $385.
NewsBTC
You can visit the page to read the article.
Source: NewsBTC
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Critical Ripple (XRP) Price Targets, Bitcoin Rally, and More: Bits Recap Oct 15
BTC briefly surpassed $66K, while XRP is still trailing behind the leading cryptocurrencies. NewsBTC
Investor Who Netted $920,000 On $MOTHER Now Builds A $1.11M Stake In $RETARDIO: Can He Strike Gold Again?
The investor behind the wallet F4Kpk…VHRkB, known for turning a massive $920,000 profit from $MOTHER, is now making bold moves into $RETARDIO. The question remains: will he pull off another quick fortune? Whale Spends 7,686 Sol To Acquire $RETARDIO Over the last 14 hours, F4Kpk…VHRkB has invested a total of NewsBTC