Bitcoin Cash Price Watch: Bitcoin Cash (BCH) returns to bull run.
Bitcoin Cash price bounced back from its decline this past weekend, now looking to break $900 once again.
BCH/USD is back on a bullish run after establishing support at around $860.
The $910 price level is considered a major resistance point.
Bitcoin Cash Price Watch: BCH/USD Looking To Overtake $900
On Wednesday, Bitcoin Cash price continued to recover from its decline this past weekend, reaching a high of $909 before pulling back below $900. BCH/USD is now up by 6% over the past seven-day period. At the moment, the cryptocurrency is back on another bullish run, looking to overtake the pivotal $900 level once again.
Bitcoin Cash managed to break past its previous resistance of $880 today, and a major resistance of $910 must be tested to maintain a long-term bullish outlook. For the short term, it’s more likely for BCH/USD to be in the $860-$890 price range. The lower limit of that range is considered a major support level. A downside action below the support could take BCH/USD down to a retracement level at $825.
Looking at the chart, things could go either way for Bitcoin Cash price in the following hours. The MACD is showing a neutral signal, while the RSI indicator puts Bitcoin Cash in a severely oversold position.
Looking at the Technical Indicators:
Hourly MACD — Neutral signal
Hourly RSI — Bitcoin Cash is in oversold territory
Major Resistance Level — $910
Major Support Level — $860
Featured Image: Twitter
(function(d, s, id)
var js, fjs = d.getElementsByTagName(s);
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
(document, ‘script’, ‘facebook-jssdk’));