Bitcoin cash price is gaining momentum above the $400.00 pivot level. BCH is placed in a strong uptrend similar to BTC and it could accelerate above the $450.00 resistance area.

  • Bitcoin cash price recently climbed above the $400.00 and $425.00 resistance levels.
  • BCH is following an ascending channel with support near $422.00 on the 2-hours chart.
  • There are high chances of a strong upside break above the $450.00 resistance area.

Bitcoin Cash Price

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Bitcoin Cash Price Analysis (BCH to USD)

In the past few days, there was a strong rise in bitcoin, which helped bitcoin cash price in climbing above the $400.00 barrier. BCH/USD slowly climbed higher similar to Ethereum, ripple, EOS and cardano.

Bitcoin Cash Price Analysis (BCH to USD)

Click to Enlarge Chart

Looking at the 2-hour chart of BCH/USD, the pair remained strong above $400.00 and it even settled above the 25 simple moving average (2-hours). The recent upward move was positive since there was a break above the $425.00 resistance.

The price traded as high as $440.98 and recently corrected lower. It broke the $430.00 level and the 23.6% Fib retracement level of the recent wave from the $399.82 low to $440.98 high.


However, the $420.00 level and the 25 simple moving average (2-hours) acted as a strong support. Moreover, the 50% Fib retracement level of the recent wave from the $399.82 low to $440.98 high provided support.

More importantly, there is an ascending channel in place with support near $422.00 on the same chart. Therefore, the price is clearly staging more upsides above the $440.00 level.

The main resistance is near the $450.00 level, above which bitcoin cash bulls are likely to gain full control. The next key resistance for them is near the last major swing high at $475.00.

On the downside, the main support is near the $420.00 level. If bitcoin cash price settles below $420.00, there is a risk of more losses. In the mentioned bearish scenario, the price could retest the $400.00 support.

Overall, the market is gaining pace and there are high possibilities of BCH/USD climbing above $440.00 and $450.00 in the near term.

The market data is provided by TradingView, Coinbase.

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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.

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