{"id":438479,"date":"2020-09-15T05:48:11","date_gmt":"2020-09-15T05:48:11","guid":{"rendered":"https:\/\/www.wncen.com\/?p=438479"},"modified":"2024-06-11T14:05:21","modified_gmt":"2024-06-11T14:05:21","slug":"bitcoin-cash-rallies-7-more-upsides-likely-if-bch-clears-100-sma","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/bitcoin-cash-rallies-7-more-upsides-likely-if-bch-clears-100-sma\/","title":{"rendered":"Bitcoin Cash Rallies 7%, More Upsides Likely If BCH Clears 100 SMA"},"content":{"rendered":"
Bitcoin cash price rallied over 6% and it broke the $230 and $235 resistance levels against the US Dollar. BCH is likely to continue higher towards $250 if it clears the 100 SMA (H4).<\/em><\/p>\n After forming a support base above the $220 level, bitcoin cash price started a steady recovery. BCH broke the $220 and $230 resistance levels to move into a positive zone, similar to bitcoin above $10,500<\/a>.<\/p>\n The price traded above the 23.6% Fib retracement level of the downward move from the $297 high to $200 swing low. There was also a break above a key contracting triangle with resistance near $233 on the 4-hours chart of the BCH\/USD pair.<\/p>\n The pair is now facing hurdles near $240 and the 100 simple moving average (4-hours). The current price action is positive and if bitcoin cash clears the 100 SMA, there are chances of another push towards the $250 resistance.<\/p>\n <\/a><\/p>\n The 50% Fib retracement level of the downward move from the $297 high to $200 swing low is near the $250 level to act as a resistance. Any further gains could lead the price towards the $260 and $265 resistance levels in the near term. The next major hurdle is near the $290 swing high.<\/p>\n If bitcoin cash price starts a downside correction, the broken triangle resistance near $234 might provide support. The next major support is near the $230 level, where the bulls are likely to appear.<\/p>\n If the price fails to stay above the $230 support, the price could revisit the $220 support. Any further losses could lead the price towards the $200 handle in the near term.<\/p>\n Technical indicators<\/p>\n Hourly MACD \u2013 The MACD for BCH\/USD is currently gaining pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BCH\/USD is currently rising and it is well above the 60 level.<\/p>\n Key Support Levels \u2013 $230 and $220.<\/p>\n Key Resistance Levels \u2013 $240 and $250.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin cash price rallied over 6% and it broke the $230 and $235 resistance levels against the US Dollar. BCH is likely to continue higher towards $250 if it clears the 100 SMA (H4). Bitcoin cash price is gaining momentum above the $235 resistance level against the US Dollar. The price is currently facing hurdles near $240 and the 100 simple moving average (4-hours). There was a break above a key contracting triangle with resistance near $233 on the 4-hours chart of the BCH\/USD pair (data feed from Kraken). The pair is likely to accelerate further higher if it clears the 100 SMA and $240. Bitcoin Cash Price Rallies 6% After forming a support base above the $220 level, bitcoin cash price started a steady recovery. BCH broke the $220 and $230 resistance levels to move into a positive zone, similar to bitcoin above $10,500. The price traded above the 23.6% Fib retracement level of the downward move from the $297 high to $200 swing low. There was also a break above a key contracting triangle with resistance near $233 on the 4-hours chart of the BCH\/USD pair. The pair is now facing hurdles near $240 and the 100 simple moving average (4-hours). The current price action is positive and if bitcoin cash clears the 100 SMA, there are chances of another push towards the $250 resistance. Bitcoin cash rallies to $240: Source: TradingView.com The 50% Fib retracement level of the downward move from the $297 high to $200 swing low is near the $250 level to act as a resistance. Any further gains could lead the price towards the $260 and $265 resistance levels in the near term. The next major hurdle is near the $290 swing high. Dips Supported in BCH? If bitcoin cash price starts a downside correction, the broken triangle resistance near $234 might provide support. The next major support is near the $230 level, where the bulls are likely to appear. If the price fails to stay above the $230 support, the price could revisit the $220 support. Any further losses could lead the price towards the $200 handle in the near term. Technical indicators Hourly MACD \u2013 The MACD for BCH\/USD is currently gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BCH\/USD is currently rising and it is well above the 60 level. Key Support Levels \u2013 $230 and $220. Key Resistance Levels \u2013 $240 and $250.<\/p>\n","protected":false},"author":67,"featured_media":438481,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16895,3,4],"tags":[10765,10777,79646],"class_list":["post-438479","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-cash","category-news","category-analysis","tag-bch","tag-bchusd","tag-bchusdt"],"acf":[],"yoast_head":"\n\n
Bitcoin Cash Price Rallies 6%<\/h2>\n
Bitcoin cash rallies to $240: Source: TradingView.com<\/a><\/pre>\n
Dips Supported in BCH?<\/h2>\n