Bitcoin Cash Price Technical Analysis – BCH/USD To Rise Further?

Key Points

• Bitcoin cash price completed a downside correction and recovered above $1,400 against the US Dollar.
• There is a rising channel forming with support near the $1,380 level on the hourly chart of the BCH/USD pair (data feed from Kraken).
• The pair may perhaps continue to rise further as long as above $1,350 and the 100 hourly simple moving average.

Bitcoin cash price is slowly moving higher towards $1,500 against the US Dollar. BCH/USD is likely to accelerate further with support near $1,400 and $1,380.

Bitcoin Cash Price Trend

There was a slow and steady rise from the $1,320 swing low in bitcoin cash price against the US Dollar. The price started an upside move and traded above the $1,400 resistance level. It also settled above the 50% Fib retracement level of the last drop from the $1,578 high to $1,237 low. It is a positive sign and suggests that the price may continue to rise towards $1,500 and $1,525.

More importantly, the price is placed nicely above the $1,350 pivot level…