Bitcoin Cash Technical Analysis: BCH/USD bulls retreat from the $300-level
- BCH/USD bulls have stayed in control for the second straight day.
- The daily price chart shows strong resistance levels at $302.45 and $310.45.
BCH/USD daily chart
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BCH/USD stayed in control of the market for the second straight day as the price went up from $284.78 to $294.25. The price reached intraday highs of $297.65 before the bulls commenced their retreat. The MACD shows increasing bearish market momentum. The relative strength index (RSI) is trending around 57.15.
BCH/USD has strong resistance levels at $302.45 and $310.45. On the downside, we have five healthy support levels at $289.90 (SMA 20), $281.50, $271.25 (SMA 200), $258.68 and $254.50 (SMA 50).
Key levels
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
