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

Featured Image: Twitter

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