cryptocurrency

Bitcoin Cash Analysis: Major Hurdle Near $135

  • Bitcoin Cash price started a new increase from the $112 area against the US Dollar.
  • The price is now trading above the $125 area and the 55 simple moving average (4 hours).
  • There is a major bearish trend line forming with resistance near $133 on the 4-hour chart of the BCH/USD pair (data feed from Coinbase).
  • The pair must cross $133 and $135 to continue rising in the near term.

Bitcoin cash price rises above $125 against the US dollar, similar to Bitcoin. The BCH/USD pair could start a new high if it crosses the $135 level.

Bitcoin cash price analysis

Bitcoin cash price formed a good support base above the $112 level. The BCH started a new surge and managed to clear the $120 resistance area.

The price rose above the $122 and $125 resistance levels. He even broke through the $130 level and 55 simple moving average (4 hours). The price has breached the 50% Fib retracement level of the downside move from the $149 swing high to the $112 low.

It is now trading above the $125 area and the 55 simple moving average (4 hours). However, the price appears to be facing hurdles near the $134 and $135 levels. It is struggling near the 61.8% Fib retracement level of the downside move from the $149 swing high to $112 low.

There is also a major bearish trend line forming with resistance near $133 on the 4-hour chart of the BCH/USD pair. There is an immediate resistance near the $133 level. The first major resistance is near the $135 level. The main resistance is near the $140 level.

Any further gains above $135 and $140 could set the pace for a move towards the $155 level. If there is a move above the $155 resistance, the price could rise towards the $170 area.

There is immediate support on the downside near the $125 area. The next major support is near the $120 level, which might target $112 bears below. Their next target might be near the $105 level.

bitcoin cash price

look at me ScheduleBitcoin cash price is now trading above the $125 area and the 55 simple moving average (4 hours). Overall, the price should cross $133 and $135 to continue higher in the near term.

Technical Indicators

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

4 hours RSI (Relative Strength Index) – The relative strength index of BCH/USD is above the 50 level.

Key support levels – $125 and $120.

Key resistance levels – $135 and $140.

Tags: BCH, Bitcoin Cash

#Bitcoin #Cash #Analysis #Major #Hurdle

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