fxs_header_sponsor_anchor

Bitcoin Cash Price Analysis: BCH/USD bulls need to break $250 to restore buyer faith

  • Bitcoin Cash price is trading in the red, with losses of 4.15% in the second half of the session.
  • BCH/USD is consolidating after a decent push to the upside last week. 
  • There is room for the price to recover the fall seen in March, but $250 must be broken. 

 

BCH/USD weekly chart

Over the last going on six weeks, the price has offered little in terms of direction, narrowing within a range of $200 to the downside and $250 to the upside. 

BCH/USD daily chart

Daily resistance should be noted at $250, a break and closure above here, could be very inviting to greater upside momentum. Additionally, note that price action via the daily has broken and now retesting a bullish flag structure.

Spot rate:                236.67

Relative change:    -4.15%

High:                        248.08

Low:                         234.34

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.