Bitcoin Cash Price Analysis: BCH/USD Nosedived Below $475

2018-10-11 07:28

Key Points

Bitcoin cash price failed to bounce back and broke the $500 support against the US Dollar. There was a break below a declining channel with support at $495 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair declined sharply and broke the $475 and $460 support levels.

Bitcoin cash price nosedived below key supports against the US Dollar. BCH/USD is currently under pressure as it turned sell on rallies near $470-475.

Bitcoin Cash Price Analysis

Yesterday, we saw how bitcoin cash price failed to break the $530 resistance and declined against the US Dollar. The BCH/USD pair declined further and broke an important support near the $500 level. It opened the doors for more losses and the price dropped sharply below the $475 and $460 support levels. There was even a close below the $475 level and the 100 hourly simple moving average.

During the decline, there was a break below a declining channel with support at $495 on the hourly chart of the BCH/USD pair. The price even broke the $450 support and traded as low as $440. A low was formed at $440 and the price is currently in a bearish zone. An initial resistance is near the 23.6% Fib retracement level of the last decline from the $514 high to $440 low. An upward move won’t be easy since there are many resistance near the $475 level. The 50% Fib retracement level of the last decline from the $514 high to $440 low is also near $477.

Looking at the chart, BCH price has moved sharply into a bearish zone below $500. If there is a break below the $440 low, the price may even drop towards the $400 level in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is now well below the 30 level.

Major Support Level – $440

Major Resistance Level – $475

The post Bitcoin Cash Price Analysis: BCH/USD Nosedived Below $475 appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin Cash (BCH) на Currencies.ru

$ 466 (+0.40%)
Объем 24H $251.812m
Изменеия 24h: 0.62 %, 7d: -3.63 %
Cегодня L: $462.11 - H: $467.67
Капитализация $9.186b Rank 16
Цена в час новости $ 449.25 (3.73%)

bitcoin support 475 below price bch usd

Источник: newsbtc.com

bitcoin support → Результатов: 126


Bitcoin Under Pressure Near $40K, Here Are 2 Reasons Why That Could Change Soon

Bitcoin remains rangebound in the high $30,000 to low $40,000 areas. The first crypto by market cap has seen its volatility reduce as several factors contribute to the slowdown across the sector. Related Reading | TA: Bitcoin Trims Gains, Support Turned Resistance At $41K At the time of writing, Bitcoin (BTC) trades at $40,500 with a 6% loss in the last 24-hours and a 1% profit over the past week.

2022-4-22 21:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Cash successfully completes halving, price leaps to its highest since 2021

Bitcoin Cash experienced a notable surge, soaring over 10% following the completion of the blockchain’s network halving. The digital asset, which has been on a consistent upward trajectory since the year began, has witnessed a remarkable 23% surge over the past week and an impressive 43% upswing in the last 30 days, according to data […] The post Bitcoin Cash successfully completes halving, price leaps to its highest since 2021 appeared first on CryptoSlate.

Bitcoin Cash Price Pumps Over 10% But $255 Is The Key To More Gains

Bitcoin Cash price rallied over 10% and broke the $245 resistance. BCH is now facing strong resistance near the $255 zone. Bitcoin cash price started a fresh surge above the $232 resistance. The price is trading above $245 and the 100 simple moving average (4 hours).