RATE Group | BCH/USD holds at the threshold, focuses on $500
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BCH/USD holds at the threshold, focuses on $500

19 Feb BCH/USD holds at the threshold, focuses on $500

Posted at 03:52h in Bitcoin News by

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  • Bitcoin Cash renews the uptrend with a jump above $400.
  • Bitcoin Cash bulls struggle to beat the seller congestion at $425 in readiness for gains aiming for $500.
  • Tether (USDT) is set to launch on the Bitcoin Cash blockchain.

Bitcoin Cash price recently explored the downside under $400 following a sharp drop from highs close to the ‘big’ $500. The immense selling pressure at the $500 zone could not permit the bulls to push their action higher. Instead, Bitcoin Cash tumbled in search of balance before attempting another assault on the level.

Development in terms of recovery has been very forthcoming in a couple of days after BCH downside took a breather at $375. Aiding in the support was the 200SMA in the 4-hour timeframe. BCH/USD is back in the limelight above $400 and focused on sustaining gains above $425.

Technical analysis shows that the crypto is back in its bullish phase with the next milestone at $500. The bullish divergence of the MACD puts the…

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