LBN
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise
No Result
View All Result
LBN
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise
No Result
View All Result
LBN
No Result
View All Result
Bitcoin Cash Price
Altcoin News

Bitcoin Cash Analysis: $230 Holds The Key But Can Bulls Clear $245?

by Aayush Jindal
July 10, 2020
in Altcoin News, News, Trading
Share
logo

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000

Sign up
  • Bitcoin cash price is currently facing a strong resistance near the $245 level against the US Dollar.
  • The price is currently correcting lower and approaching the $230 support zone.
  • There is a major bullish trend line forming with support near $230 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase).
  • The pair must stay above the $230 support to make another attempt to clear the $245 resistance.

Bitcoin cash price is correcting gains from the $245 hurdle against the US Dollar. BCH/USD is likely to bounce back as long as it is above the $230 support zone.

Bitcoin Cash Price Analysis

Earlier this week, bitcoin cash price started a fresh increase above the $225 and $230 resistance levels against the US Dollar. BCH price even settled above the $230 level and the 55 simple moving average (4-hours).

Finally, the price spiked above the $240 level and it is currently facing a strong resistance near the $245 level. A high is formed near the $245 level and the price is currently correcting lower.

There was a break below the $240 level, plus the 23.6% Fib retracement level of the recent increase from the $215 swing low to $245 high. The price is now trading below the $236 level and it is approaching the main $230 support zone.

There is a major bullish trend line forming with support near $230 on the 4-hours chart of the BCH/USD pair. The trend line is close to the 50% Fib retracement level of the recent increase from the $215 swing low to $245 high.

More importantly, the 55 simple moving average (4-hours) is also near the trend line support at $230. If bitcoin cash price fails to stay above the trend line support and $230, there is a risk of a nasty decline in the coming sessions.

Conversely, the price might bounce back above the $240 and $242 levels. The main resistance is near the $245 level. A successful close above the $245 level might trigger a sharp rally towards $255 and $260.

Bitcoin Cash Price
Bitcoin Cash Price

Looking at the chart, bitcoin cash price is correcting lower from the $245 barrier. It must stay above the $230 support to make another attempt to clear the $245 resistance.

Technical indicators

4 hours MACD – The MACD for BCH/USD is currently gaining momentum in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for BCH/USD is now below the 50 level.

Key Support Levels – $230 and $215.

Key Resistance Levels – $240 and $245.

Related Posts

Bitcoin Cash Price
Altcoin News

Bitcoin Cash Analysis: Indicators Suggest Fresh Rally To $275

Bitcoin cash is eyeing a fresh increase above the $252 resistance against the US Dollar. The price is now...

by Aayush Jindal
December 8, 2023
Litecoin (LTC) Price
Altcoin News

Litecoin (LTC) Price Analysis: Bulls In Action Above $75

Litecoin started a steady increase above $72 against the US Dollar. LTC price is now trading above $73.50 and...

by Aayush Jindal
December 8, 2023
Solana (SOL) Price
Altcoin News

Solana (SOL) Price Analysis: Bulls Still Aim For Move To $75

Solana price started a downside correction from the $65.50 zone against the US Dollar. The price is now trading...

by Aayush Jindal
December 6, 2023
Bitcoin Price
Bitcoin News

Bitcoin Price Analysis: BTC Bulls Aim Upside Break To $50K

Bitcoin price started a strong increase above the $40,000 zone against the US Dollar. The price is now trading...

by Aayush Jindal
December 6, 2023

Top Casinos

Crypto Casinos
Crypto Casinos
Bonus Finder
Bonus Finder

Press Releases

  • BC.GAME Honored with the “Best Casino Operator 2023” Award from SiGMA

  • ArbitrageScanner is hosting its biggest affiliate event in Bangkok on the 9th of December. For...

  • Is the Bitcoin price still at risk? Golden Cross signals bull run

  • FUNToken & ivendPay: Pioneering the Next Era of Crypto Payments

  • Zeebu’s $ZBU Listing On Gate.io and Startup Program

About us:

Live Bitcoin News is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at Live Bitcoin News, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

Follow us:

  • This field is for validation purposes and should be left unchanged.

  • About
  • Partners
  • PR
  • Advertising
  • Privacy
  • T&C
  • Contact
  • Trading Software
  • Online Casinos Germany

© 2023 Live Bitcoin News. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise

© 2023 Live Bitcoin News. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.
Go to mobile version