Today, Bitcoin Cash price is approaching the $440 resistance level. On the upside, if the bulls break the $440 resistance level, the price of Bitcoin Cash will rise to retest the $480 overhead resistance.
Bitcoin Cash Price Technical Analysis
Bitcoin Cash (BCH) was in a bullish trend yesterday, as the bulls have made several attempts to break the $440 resistance level in order to reach the $480 overhead resistance. On June 20, the bulls tested the $440 resistance level, and Bitcoin Cash price was on a downward correction to a low at $360 price level.
On June 16 and 17, Bitcoin Cash price reached the $440 résistance level, however, the bulls met resistance. This had been the scenario since the beginning of the month of June. Today, Bitcoin Cash price is approaching the $440 resistance level. On the upside, if the bulls break the $440 resistance level, the price of Bitcoin Cash will rise to retest the $480 overhead resistance.
On the downside, the price of Bitcoin Cash will drop if the bulls are unable to break the resistance level. In the meantime, Bitcoin Cash price is in the overbought region of the daily stochastic but above the 60% range. This is an indication that Bitcoin Cash price is in a bullish momentum and a buy signal.
BCHUSD Price Short-term Analysis
Looking at the 1-hour chart, BCHUSD price is in a bullish trend. The 12-day and the 26-day Exponential Moving Averages (EMAs) are trending northward, which indicates that BCHUSD price is rising. Today, BCHUSD price has risen from $412 to $ 433. The price may face resistance at the $440 price level.
In the meantime, BCHUSD price is in the overbought region of the daily stochastic but above the 80% range, which indicates that BCHUSD price is in a bullish momentum and a buy signal.
- Resistance Levels: $420, $430, $440
- Support Levels: $410, $400,$390
Disclaimer
Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The Information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.
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