Bitcoin Cash

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<a href="https://bitcoinworld.co.in/bitcoin-cash-price-soared-over-10-and-broke-the-245-resistance/" title="Bitcoin Cash Price Soared Over 10% And Broke The $245 Resistance" rel="nofollow"></a>
<ul> 
 <li style="font-weight: 400">The Bitcoin Cash is trading above $240</li> 
 <li style="font-weight: 400">BCH is now facing strong resistance near the $245 zone.</li> 
</ul> 
After forming a base above the $220 level, Bitcoin Cash price started a steady increase. It broke the $225 resistance to enter a positive zone before dropping slightly, like Bitcoin and Ethereum. 
There was a break above a key bearish trend line with resistance near $225 on the 4-hour chart of the BCH/USD pair. There was a strong increase above the $232 and $245 resistance levels. The price is up over 10% and it is now testing the $250 resistance. 
BCH is now showing positive signs above $245 and the 100 simple moving average (4 hours). It is also above the 23.6% Fib retracement level of the upward move from the $219 swing low to the $250 high. 
<figure id="attachment_56901" aria-describedby="caption-attachment-56901" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-56901" src="https://bitcoinworld.co.in/wp-content/uploads/BCH-Price-Chart-483x300.png" alt="" width="538" height="334" srcset="https://bitcoinworld.co.in/wp-content/uploads/BCH-Price-Chart-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/BCH-Price-Chart.png 760w" sizes="(max-width: 538px) 100vw, 538px">
 <figcaption id="caption-attachment-56901" class="wp-caption-text">
 BCH Price Chart | Source: <a href="https://coinstats.app/coins/bitcoin-cash/">Coinstats</a>
 </figcaption>
</figure> 
&nbsp; 
The price is now struggling to clear the $250 resistance. To continue higher, the price must settle above $250. The next major resistance is near $265, above which the price might accelerate higher toward the $280 level. Any further gains could lead the price toward the $300 resistance zone. 
<h3 id="span-style-font-weight-400-fresh-drop-in-bch-span">Fresh Drop in BCH?</h3> 
If Bitcoin Cash price fails to clear the $250 resistance, it could start a fresh decline. Initial support on the downside is near the $245 level. 
The next major support is near the $232 level or the 61.8% Fib retracement level of the upward move from the $219 swing low to the $255 high, where the bulls are likely to appear.&nbsp; 
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If the price fails to stay above the $232 support, the price could test the $225 support. Any further losses could lead the price toward the $220 zone in the near term. 
<h3 id="span-style-font-weight-400-technical-indicators-span">Technical Indicators</h3> 
<ul> 
 <li style="font-weight: 400">4-hour MACD – The MACD for BCH/USD is gaining pace in the bullish zone.</li> 
 <li style="font-weight: 400">4-hour RSI (Relative Strength Index) – The RSI is currently in the overbought zone.</li> 
 <li style="font-weight: 400">Key Support Levels – $245 and $232.</li> 
 <li style="font-weight: 400">Key Resistance Levels – $250 and $260.</li> 
</ul> 
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote> 
The post <a href="https://bitcoinworld.co.in/bitcoin-cash-price-soared-over-10-and-broke-the-245-resistance/">Bitcoin Cash Price Soared Over 10% And Broke The $245 Resistance</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Bitcoin Cash Price Soared Over 10% And Broke The $245 Resistance

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