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: Bearish Below $465 In Near Term

by Aayush Jindal
July 9, 2021
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 started a fresh decline after it failed to surpass the $550 resistance against the US Dollar.
  • The price is now trading below the $500 support and the 55 simple moving average (4-hours).
  • There was a break below a major bullish trend line with support near $510 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase).
  • The pair could continue to move down if it fails to stay above the $465 support zone.

Bitcoin cash price is slowly moving lower below $500 against the US Dollar, similar to bitcoin. BCH/USD must stay above $465 and $450 to start a fresh increase.

Bitcoin Cash Price Analysis

After an extension above the $520 level, bitcoin cash price faced a strong resistance. BCH struggled to clear the $550 zone and it started a major decline.

There was a clear downside break below the $520 and $500 support levels. The pair declined below the 23.6% Fib retracement level of the upward move from the $388 swing low to $548 high. There was also a break below a major bullish trend line with support near $510 on the 4-hours chart of the BCH/USD pair.

The pair is now trading below the $500 support and the 55 simple moving average (4-hours). An immediate support on the downside is near the $465 level.

The 50% Fib retracement level of the upward move from the $388 swing low to $548 high. A downside break below the $465 support zone could open the doors for a larger decline. The next major support is near the $425 level.

Conversely, the price could start a fresh increase above the $480 level. The next major resistance is near the $500 level and the 55 SMA. A close above the $500 level might push the price towards $520. If there are more gains, the price could even surpass the $550 level in the near term. The next major resistance is near the $600 level.

Bitcoin Cash Price
Bitcoin Cash Price

Looking at the chart, bitcoin cash price is showing bearish signs below $500 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it fails to stay above the $465 support zone.

Technical indicators

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

4 hours RSI (Relative Strength Index) – The RSI for BCH/USD is near the 40 level.

Key Support Levels – $465 and $425.

Key Resistance Levels – $500 and $550.

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