- BCH price trading on a bullish note while heading towards the final resistance zone of $680-770 with rising support levels
- The pair of BCH/BTC is facing the resistance of 100-DMA and currently placed above 20 and 50 DMA standing at 0.01138 BTC with intraday gains of +10.87%
Bitcoin cash price is now heading towards the significant hurdle zone of $680 to $770. After a sharp sell-off, BCH finds its base around $450-$475 after testing its strong support, while a positive bounce back is observed. The coin is heading towards the distribution zone of $680 to $770. Currently, BCH is trading above all the moving averages of 20, 50, 100, and 200-DMA indicating its bullish nature. Support on the lower side is situated at $580, and $490 is acting as strong support; likewise, the higher side’s major resistance is placed at $680 to $770. Volume over the monthly chart is declining, indicating fewer buyers and sellers’ participation.
Bitcoin Cash price is over the 4-hour time frame continues its bullish momentum as making higher highs and lower lows sequence. The coin is now in the overbought zone, and a retracement is expected from current levels. However, the overall trend is still bullish. Currently, BCH is trading at the level of $670 with intraday gains of +11.98%, and the volume increased nearly +76.91%, standing at $5,669,883,759. Likewise, the total market capitalization jumped almost +12.03%, standing at $12,584,930,021.
Relative Strength Index (BULLISH) indicates bullish momentum while trading at 73.62. However, it is present in the overbought zone after recovering from lower levels, and a short-term retracement is expected.
Moving Average Convergence Divergence (BULLISH) currently indicates a bullish trend on the daily chart, as it is trading with the significance of the buyer’s signal line (green) over the seller’s line (red).
Support levels: $580 and $490
Resistance levels: $680 and $770