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Tag: BCHUSDT

  • Bitcoin Cash Price Solid 15% Gain: Signs Point to Fresh BCH Rally Ahead

    Bitcoin Cash Price Solid 15% Gain: Signs Point to Fresh BCH Rally Ahead

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    Bitcoin Cash price rallied over 15% and broke the $275 resistance. BCH is now facing strong resistance near the $282 zone.

    • Bitcoin cash price started a fresh surge above the $250 resistance.
    • The price is trading above $265 and the 100 simple moving average (4 hours).
    • There is a key bullish trend line forming with support at $258 on the 4-hour chart of the BCH/USD pair (data feed from Kraken).
    • The pair could continue to move up if it clears the $282 resistance zone.

    Bitcoin Cash Price Rallies Above $270

    After forming a base above the $232 level, Bitcoin Cash price started a steady increase. It broke the $245 resistance to enter a positive zone, like Bitcoin and Ethereum.

    There was a strong increase above the $250 and $265 resistance levels. The price gained over 15% and tested the $282 resistance. A high was formed near $283 and the price is now correcting gains. There was a move below the $275 level.

    The price tested the 23.6% Fib retracement level of the upward move from the $233 swing low to the $283 high. BCH is now showing positive signs above $260 and the 100 simple moving average (4 hours).

    Source: BCH/USD on TradingView.com

    There is also a key bullish trend line forming with support at $258 on the 4-hour chart of the BCH/USD pair. If there is another increase, the price might face resistance near $275. To continue higher, the price must settle above $282. The next major resistance is near $292, above which the price might accelerate higher toward the $300 level. Any further gains could lead the price toward the $320 resistance zone.

    Fresh Drop in BCH?

    If Bitcoin Cash price fails to clear the $275 resistance, it could start a fresh decline. Initial support on the downside is near the $265 level.

    The next major support is near the $258 level or the trend line. It is close to the 50% Fib retracement level of the upward move from the $233 swing low to the $283 high, where the bulls are likely to appear. If the price fails to stay above the $258 support, the price could test the $245 support. Any further losses could lead the price toward the $232 zone in the near term.

    Technical indicators

    4-hour MACD – The MACD for BCH/USD is losing pace in the bullish zone.

    4-hour RSI (Relative Strength Index) – The RSI is currently in the overbought zone.

    Key Support Levels – $265 and $258.

    Key Resistance Levels – $275 and $282.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Aayush Jindal

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  • Bitcoin Cash Rally Threatened As Exchange Drops BCH Following XRP Listing Rumors

    Bitcoin Cash Rally Threatened As Exchange Drops BCH Following XRP Listing Rumors

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    Bitcoin Cash has followed the general growth trend of Bitcoin with the price almost clearing the $250 resistance before being rejected. Even though BCH maintains this bullish momentum, it is not completely in the clear following its delisting from one crypto exchange.

    EDX Markets Delists Bitcoin Cash

    In another unexpected blow, Bitcoin Cash (BCH) has been delisted from the EDX Markets crypto exchange. Users had first suspected that the exchange was ending support for BCH and rumors spread like wildfire through social media. Eventually, the crypto exchange will confirm these rumors, with a spokesperson revealing that EDX Markets was indeed no longer offering support for BCH.

    Contrary to the norm, EDX Markets did not give any indication of why the cryptocurrency was delisted from the exchange. Rather, users were directed to sign up for the newsletter to get updates about listings, as well as check out the website for supported coins.

    Interestingly, this is happening at a time when rumors have been circulating that EDX Markets might be planning to list XRP. This would make sense given that many exchanges have resisted the cryptocurrency after Ripple’s victory over the SEC. Since then, XRP’s volume has been on the high side and crypto exchanges have clamored for a chance to get a piece of the pie.

    BCH Price Struggles To HoldOn

    Following the rejection from the $250 level, the Bitcoin Cash (BCH) price has been hard-pressed to continue on its previous trajectory. The fall toward the $240 level shook out a good portion of longs before the bulls were able to take over once more.

    However, the BCH daily trading volume is still seeing good momentum after rising 36% in one day. If anything, this shows there is still a fair amount of interest in the altcoin with trading garnering a lot of attention from market participants.

    The major resistance to a BCH breakout currently lies at the $250 level. If the price is able to clear this resistance, then the rally is expected to continue and could touch $270 before losing steam. But it is still a long way from its yearly high of $300.

    At the time of writing, BCH is trading at $243 with 3.75% losses on the weekly chart. However, it is performing much better in the last day after rising 2.23%.

    BCH price at $237 | Source: BTCUSDT on Tradingview.com

    Featured image from Analytics Insight, chart from Tradingview.com

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    Scott Matherson

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