RATE Group | Bitcoin Cash Price Analysis: BCH/USD Could Recover To $500
41927
wp-singular,post-template-default,single,single-post,postid-41927,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Cash Price Analysis: BCH/USD Could Recover To $500

11 Sep Bitcoin Cash Price Analysis: BCH/USD Could Recover To $500

Posted at 09:01h in Bitcoin News by

[ad_1]

Key Points

  • Bitcoin cash price is holding the $460 support very well against the US Dollar.
  • Yesterday’s highlighted key bearish trend line is still active with resistance near $475 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair could move higher in the short term towards the $495 and $500 resistance levels.

Bitcoin cash price is trading above the recent low against the US Dollar. BCH/USD is likely to recover a few points towards $500 in the near term.

Bitcoin Cash Price Support

Yesterday, there was a minor recovery initiated from the $460 support in bitcoin cash price against the US Dollar. The BCH/USD pair moved above the $475 and $480 levels. However, the upside move was capped by the $490 resistance zone. Moreover, the price also failed to break the 50% Fib retracement level of the last slide from the $525 high to $460 swing low.

Later, the price declined back towards the $460 support zone where buyers reemerged. There was a fresh upward move from the $459…

[ad_2]

Source link

Tags:
, , , , , ,