Bitcoin Cash Price (BCH) Turns Buy On Dips, $332 Holds Key


Recently, bitcoin cash price gained bullish momentum and climbed above $325.00 and $330.00. BCH to USD turned buy on dips and it is likely to accelerate higher above $350.00.

Key Takeaways: BCH/USD

  • Bitcoin cash price is showing a lot of positive signs above $332.00 against the US Dollar.
  • BCH/USD surged above the key $324.00 resistance and a bearish trend line on the 2-hours chart (data feed from Bitstamp).
  • Bitcoin is now trading above $9,050 and it could rise further above the $340.00 resistance area.

Bitcoin Cash Price Analysis

This week, there was a steady rise in bitcoin cash price above the $315.00 and $320.00 levels. BCH/USD even broke the $332.50 resistance area to enter into a positive zone.

Bitcoin Cash Price

Looking at the 2-hours chart, bitcoin cash price gained pace after it settled above $332.50 and the 50 simple moving average (2-hours, purple). More importantly, there was a break above a key bearish trend line at $324.00.

The price extended gains above the $344.00 and $350.00 levels. A high is formed near the $352.83 level and the price is currently correcting lower. It is trading below the 23.6% Fib retracement level of the upward move from $332.61 to $352.83.

An initial support on the downside is near the $343.20 level. Besides, the 50% Fib retracement level of the upward move from $332.61 to $352.83 is near the $342.72 level to act as a strong support.

If there are more downsides, bitcoin cash price could revisit the $332.00 support level. The 50 simple moving average (2-hours, purple) is also positioned near the $332.00 area to provide support.

Any further losses may perhaps push the price back into a bearish zone towards $315.00. Conversely, the price might start a steady increase above the $348.00 and $352.00 levels.

The first major resistance is near the $355.00 level, above which there are high chances of a rally above the $362.00 and $365.00 levels. In the mentioned case, the next stop for bitcoin cash bulls is near the $370.00 level.

Live Bitcoin Cash (BCH) Price:

1 BCH/USD =$483.6216 change ~ -6.13%

Coin Market Cap

$9.03 Billion

24 Hour Volume

$439.54 Million

24 Hour VWAP

$497

24 Hour Change

$-29.64

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide