Bitcoin Cash Price (BCH) Eyeing Upside Break above $230

    Recently, there was an upside correction in bitcoin cash above the $200.00 resistance area. BCH to USD is currently consolidating gains and it could attempt more gains above $230.00 and $240.00.

    Key Takeaways: BCH/USD

    • Bitcoin cash price is showing a few bullish signs above $200.00 against the US Dollar.
    • BCH/USD is following a strong bullish trend line with support at $217.10 on the 2-hours chart (data feed from Bitstamp).
    • Bitcoin is currently consolidating gains above the $6,500 and $6,560 levels.

    Bitcoin Cash Price Analysis

    This week, there was a decent recovery wave in BTC, bitcoin cash price, ethereum and XRP. BCH/USD remained well bid and it climbed above the $200.00 resistance to move into a positive zone.

    Bitcoin Cash Price Analysis

    Looking at the 2-hours chart, bitcoin cash price even broke the $210.00 resistance area and settled above the 50 simple moving average (2-hours, purple). It traded as high as $231.11 before starting a downside correction.

    There was a break below the $225.00 level and the 23.6% Fib retracement level of the upward move from $197.11 to $231.11. However, the price remained well bid above the $214.00 and $215.00 levels.

    More importantly, bitcoin cash price is following a strong bullish trend line with support at $217.10 on the same chart. The 50% Fib retracement level of the upward move from $197.11 to $231.11 is also acting as a support.

    It seems like the price is holding the $220.00 area and the 50 simple moving average (2-hours, purple). If there is a downside break below the $220.00 and $217.00 levels, the price is likely to accelerate lower in the near term.

    The next major support is seen near the $200.00 area. Conversely, bitcoin cash price could continue to rise and it could attempt an upside break above the $230.00 and $231.00 levels. If there is a clear break above $231.00, the next stop for the bulls could be near the $245.80 level.

    Any further gains may perhaps lead BCH price towards the $255.00 and $260.00 levels in the near term. Overall, the current price action is positive and BCH might rise towards $255.00.

    Live Bitcoin Cash (BCH) Price:

    1 BCH/USD =$226.1778 change ~ 3.00%

    Coin Market Cap

    $4.15 Billion

    24 Hour Volume

    $266.89 Million

    24 Hour VWAP


    24 Hour Change


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    Aayush J
    Aayush is a Senior Cryptocurrency Strategist and Forex Expert who has a decorated history of over a decade in FinTech Markets and IT industries. As a financial markets contributor and observer, his primary focus is on specializing and sharpening his skillset inside the Technical Analysis arena and is well known for his informative and entertaining analytical skills inside the Bitcoin, Etheruem and crypto asset markets.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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