Bitcoin Cash Price Forecast: BCH/USD bulls eyeing fast return into $300

Bitcoin Cash price is trading in the green, with gains of 0.85% in the second half of the session.
BCH/USD bulls will need to break down some supply seen at the range of $250-260.
The next major target to tackle will be the $300, a breakout and closure above is key.

Ken Chigbo Independent Analyst

BCH/USD daily chart

The price was able to produce the biggest daily gain in over three weeks, as momentum returns to the upside.

BCH/USD 60-minute chart

Near-term price action is moving within an ascending channels structure, slight right of breakout south, 60-minute support will be eyed at $250.

Spot rate: 246.05

Relative change: +0.85%

High: 265.81

Low: 252.33

BCH/USD

Overview
Today last price	259.5003
Today Daily Change	1.0645
Today Daily Change %	0.41
Today daily open	258.4358

Trends
Daily SMA20	221.9828
Daily SMA50	272.2148
Daily SMA100	305.7729
Daily SMA200	270.3602

Levels
Previous Daily High	259.7876
Previous Daily Low	231.1986
Previous Weekly High	249.8177
Previous Weekly Low	204.4384
Previous Monthly High	353.0056
Previous Monthly Low	135.8533
Daily Fibonacci 38.2%	248.8666
Daily Fibonacci 61.8%	242.1196
Daily Pivot Point S1	239.8271
Daily Pivot Point S2	221.2184
Daily Pivot Point S3	211.2381
Daily Pivot Point R1	268.4161
Daily Pivot Point R2	278.3964
Daily Pivot Point R3	297.0051

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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Bitcoin Cash Price Forecast: BCH/USD bulls eyeing fast return into $300