Bitcoin Cash

Rally

Bitcoin

Resistance

Bitcoin Cash price rallied over 15% and broke the $275 resistance. BCH is now facing strong resistance near the $282 zone. 
<ul> 
 <li>Bitcoin cash price started a fresh surge above the $250 resistance.</li> 
 <li>The price is trading above $265 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bullish trend line forming with support at $258 on the 4-hour chart of the BCH/USD pair (data feed from Kraken).</li> 
 <li>The pair could continue to move up if it clears the $282 resistance zone.</li> 
</ul> 
<h2 id="bitcoin-cash-price-rallies-above-270">Bitcoin Cash Price Rallies Above $270</h2> 
After forming a base above the $232 level, Bitcoin Cash price started a steady increase. It broke the $245 resistance to enter a positive zone, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-reclaims-48k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-signals-exhaustion-2550/" target="_blank" rel="noopener ">Ethereum</a>. 
There was a strong increase above the $250 and $265 resistance levels. The price gained over 15% and tested the $282 resistance. A high was formed near $283 and the price is now correcting gains. There was a move below the $275 level. 
The price tested the 23.6% Fib retracement level of the upward move from the $233 swing low to the $283 high. BCH is now showing positive signs above $260 and the 100 simple moving average (4 hours). 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin-Cash.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-574561" src="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin-Cash.png?resize=1024%2C461" alt="Bitcoin Cash Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin-Cash.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin-Cash.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin-Cash.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin-Cash.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin-Cash.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin-Cash.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin-Cash.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/BCHUSD/" target="_blank" rel="noopener nofollow">BCH/USD on TradingView.com</a> 
There is also a key bullish trend line forming with support at $258 on the 4-hour chart of the BCH/USD pair. If there is another increase, the price might face resistance near $275. To continue higher, the price must settle above $282. The next major resistance is near $292, above which the price might accelerate higher toward the $300 level. Any further gains could lead the price toward the $320 resistance zone. 
<h2 id="fresh-drop-in-bch">Fresh Drop in BCH?</h2> 
If Bitcoin Cash price fails to clear the $275 resistance, it could start a fresh decline. Initial support on the downside is near the $265 level. 
The next major support is near the $258 level or the trend line. It is close to the 50% Fib retracement level of the upward move from the $233 swing low to the $283 high, where the bulls are likely to appear. If the price fails to stay above the $258 support, the price could test the $245 support. Any further losses could lead the price toward the $232 zone in the near term. 
Technical indicators 
4-hour MACD – The MACD for BCH/USD is losing pace in the bullish zone. 
4-hour RSI (Relative Strength Index) – The RSI is currently in the overbought zone. 
Key Support Levels – $265 and $258. 
Key Resistance Levels – $275 and $282.

Bitcoin Cash Price Solid 15% Gain: Signs Point to Fresh BCH Rally Ahead

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