THELOGICALINDIAN - Key Points
Bitcoin banknote amount is trading aloft $400 adjoin the US Dollar. BCH/USD is adverse a brace of important resistances abreast $445 and $450 levels.
Bitcoin Cash Price Resistance
During the accomplished few days, bitcoin banknote amount traded in a range aloft the $400 handle adjoin the US Dollar. The BCH/USD brace activated the $400 and $410 abutment levels on a brace of occasions and remained able-bodied bid. There was a able acceleration afresh afterwards the amount formed a low at $408. The amount jumped aloft the $425 and $430 levels, but sellers dedicated the $445 and $450 resistances.
There is additionally a above bearish trend band in abode with attrition abreast $440 on the alternate blueprint of the BCH/USD pair. The brace adapted lower beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $408 low to $442 high. It seems like the amount may abide to move bottomward appear the $425 level. It represents the 50% Fib retracement akin of the aftermost beachcomber from the $408 low to $442 high. Beneath this, the amount could analysis the $410 support in the abreast term. On the upside, the amount has to breach the $445, $450, and the 100 alternate SMA for added gains.
Looking at the chart, BCH amount could abide to barter in a ambit aloft the $410 level. Once there is a able abutting aloft $450 and the 100 alternate SMA, the amount may conceivably acceleration appear $500.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is aloof about the 50 level.
Major Support Level – $410
Major Resistance Level – $450
