Bitcoin Cash, the famous fork of the world’s leading cryptocurrency BTC, was one of the best-performing tokens with huge price growth over the past seven days increasing by more than 23 percent on the charts. BCH’s technical indicators such as MAs and RSI have revealed the magnitude of the surge at hand. The crypto-currency is the fifth largest cryptocurrency in terms of price growth relative to its competitors, with a market capitalization of $5.65 billion at the time of this writing. BCH/USD has crossed into the overbought zone from $280 to $313.88 intraday high over three consecutive sessions amid bullish dominance. The price goes through a topside rally, thus retaining BCH/USD beyond $300. The fifth-largest digital asset at the time of writing is changing hands at $310.10. To mark Bitcoin Cash’s third anniversary, the world-class Bitcoin Cash Online gaming site is offering $3k worth of a leaderboard tournament. The Bitcoin Cash community will mark the third anniversary of the network on August 1 and the project has made huge strides since 2017.
*BCH/USD has crossed into the overbought zone from $280 to $313.88 intraday high over three consecutive sessions amid bullish dominance
*The price goes through a topside rally, thus retaining BCH/USD beyond $300
*To mark Bitcoin Cash’s third anniversary, the world-class Bitcoin Cash Online gaming site is offering $3k worth of a leaderboard tournament
Key Levels
Resistance Levels: $355, $335, $315
Support Levels: $280, $260, $245
BCH/USD Daily ChartOn the daily chart, BCH/USD attempted to smash at $315 beyond the local resistance formed by the horizontal line. If it is breached efficiently, the upside trend may gain traction at $335 on the next goal. BCH/USD has crossed into the overbought region from $280 to $313.88 intraday high over three consecutive sessions amid bullish dominance.
BCH/USD has strong support levels around the MA 200 at $273.80, followed by the horizontal support line at $260, next is the horizontal support line around the MA 50 at $245. The price suggests that the momentum of the market is still predominantly bullish since its RSI is still in the overbought region. Bitcoin cash price is trading in a firm uptrend beyond $280 against the US dollar and is projected to go higher beyond $315 in the sessions to follow.
BCH/USD 4-Hour ChartAs bullish tones keep spreading across the broader crypto market, Bitcoin Cash is consolidating ahead of its next massive leap. The 4-hour time frame analysis indicates that the BCH/USD pair is currently stuck inside a topside trend. Looking out for the next massive positional breakout until the BCH/USD pair emerges from a trading range of $300.00 to $315.00.
Its local support lies on the downside at $280.00. This region is supported by 4 hours MA 50 and the above-mentioned local support that recently stopped the fall, suggesting that BCH/USD may need an additional push to breakthrough. Once it’s out of the path, the sell-off with the next emphasis on $260.00 may probably gain momentum. The RSI on the intraday charts indicates that the coin may spend some time inside the current range.
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