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Bitcoin Cash Price Watch | BCH/USD Back On Bullish Run

Bitcoin Cash Price Watch: Bitcoin Cash (BCH) returns to bull run.

Key Highlights:

  • 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.

Bitcoin Cash price watch
Source: Tradingview

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

>> Bitcoin Price Watch: June 20, 2018

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Bitcoin Cash Price Watch – BCH/USD Sinks Further, Hits Three-Month Low – Crypto Currency News

Key Highlights:

  • Bitcoin Cash declined further on Wednesday, falling to a three-month low of $800.

  • BCH/USD has since bounced back to the $820-$830 price range.

  • The cryptocurrency is on a major bearish run, establishing a major support at $820.

Bitcoin Cash Sinks Further, Reaches Three-Month Low

On Wednesday, Bitcoin Cash continued its decline from earlier this week, even hitting a three-month low of $800 for a brief moment. BCH/USD has since bounced back, now trading in the $820-$830 price range. The cryptocurrency market is strongly bearish right now, and selling pressure has wiped off most of the gains from the end of 2017.

Bitcoin Cash is currently on a major bearish run. It has established a major support at $820 and a major resistance at $855. Despite the quick pullback off its three-month low, BCH/USD could see further downside action later in the day on the bearish momentum. There is a lack of catalysts to send Bitcoin Cash back to its resistance and reverse the current trend.

On the upside, Bitcoin Cash must overcome its resistance to go further up to the next critical level at $875. An approach toward $1,000 once again is unlikely in the short term. On the downside, a break below the $820 support would spark another bearish trend that may push BCH/USD down to $800.

Source: Tradingview

As for the technicals, the MACD indicator is sending a short-term bullish signal for Bitcoin Cash price. The RSI indicator shows Bitcoin Cash is in overbought territory. Trading volume has gradually increased, but the buying pressure is not high enough to cause a major correction.

Looking at the Technical Indicators:

  • Hourly MACD — Bullish signal

  • Hourly RSI — Bitcoin Cash is in overbought territory

  • Major Resistance Level — $855

  • Major Support Level — $820

Featured Image: Depositphotos/© leungchopan

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