• Bitcoin cash price started a fresh increase above the $440 zone against the US Dollar.
  • The price is now trading above the $450 zone and the 55 simple moving average (4-hours).
  • There was a break above a major bearish trend line with resistance near $435 the 4-hours chart of the BCH/USD pair (data feed from Coinbase).
  • The pair must gain pace above $460 for more gains in the near term.

Bitcoin cash price is showing positive signs above $450 against the US Dollar, similar to bitcoin. BCH/USD could gain bullish momentum above the $460 level.

Bitcoin Cash Price Analysis

Bitcoin cash price formed a base above the $415 level. BCH started a fresh increase above the $520 and $530 levels. There was also a close above the $540 level and the 55 simple moving average (4-hours).

Besides, there was a break above a major bearish trend line with resistance near $435 the 4-hours chart of the BCH/USD pair. The pair is now trading near the 50% Fib retracement level of the downward move from the $504 swing high to $415 low.

An immediate hurdle on the upside is near the $460 level. The next major resistance is near the $470 level. It is near the 61.8% Fib retracement level of the downward move from the $504 swing high to $415 low.

A clear break above $460 and $470 might spark a fresh rally. In the stated case, the price could rise towards the $500 level.

An initial support is near the $440 level. The first major support is near the $435 level and the 55 simple moving average (4-hours). A downside break below the $440 and $435 support levels might start a major decline.

The next major support is near the $420 level, below which the bears might aim a test of $400. Any more downsides might lead the price towards the $380 level.

Bitcoin Cash Price

Bitcoin Cash Price

Looking at the chart, bitcoin cash price is now trading above the $450 zone and the 55 simple moving average (4-hours). Overall, the price must gain pace above $460 for a fresh increase in the near term.

Technical indicators

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

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

Key Support Levels – $440 and $435.

Key Resistance Levels – $460 and $500.

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