Bitcoin Cash

Bitcoin

Powerledger

<p>The price of Bitcoin Cash (BCH) has entered a decisive uptrend over the past week, according to Coinpedia’s latest technical analysis. BCH has surged 12% to current levels around $269, propelling it closer to the next vital resistance near $350.</p>
<p><strong><img decoding="async" src="https://lh7-us.googleusercontent.com/cBsFPxOy5J6CTIKJ_P-VfIiMh5mj64yhNePO1zlar1GLokWQqqM-BWsdJvcFl2Ndh-vtWPgiSx6iHA9AoTMysTcIF7dZpOG1cEHhQ3Urq96nkgm9qB7xBDrECf0pnKcN6zScbYVbIAndhuKmyNQLfm8" style="width: 100%;"></strong></p>
<h2 class="wp-block-heading" id="strong-breaking-key-barriers-strong"><strong>Breaking Key Barriers</strong></h2>
<p>This recent spike has enabled BCH bulls to finally conquer the tricky resistance zone around $260, which had thwarted previous rally attempts. Additionally, the move challenges another crucial hurdle at $285.</p>
<p>Crossing the latter barrier could provide more upside towards the $309 level initially. In the longer run, sustaining current momentum would ultimately pave the way to retest highs near $350 in the coming weeks.</p>
<h2 class="wp-block-heading" id="strong-driving-factors-strong"><strong>Driving Factors</strong></h2>
<p>Besides overcoming key resistance levels, BCH’s rally has also triggered an ascending triangle breakout on its technical chart. This reliable bullish pattern signals considerable continuation potential for uptrends.</p>
<p>Additionally, the market’s current dynamics seem conducive for further BCH upside as well. Firstly, Bitcoin’s renewed uptrend and bullish momentum during its halving year appears supportive of altcoins like BCH.</p>
<p>Furthermore, the anticipation of the altcoin season gaining traction typically spurs outsized gains for top altcoins like BCH compared to Bitcoin. Hence, analysts eye $350 as a viable target if buying momentum holds up.</p>
<h2 class="wp-block-heading" id="strong-technicals-aligning-strong"><strong>Technicals Aligning</strong></h2>
<p>Evaluating technical indicators also backs this bullish outlook. The MACD has shown a bullish crossover, with the MACD line moving above the signal line. This marks a definitive shift to positive momentum that can sustain the uptrend.</p>
<p>However, BCH’s RSI hovers in the overbought territory indicating that the token may enter the consolidation phase soon. Hence, investors should Keenly observe BCH’s market trajectory.</p>
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<p>Hence, Coinpedia remains optimistic about BCH’s prospects following its ascending triangle breakout. With strong fundamentals and technical factors aligned, BCH seems on track to retest its high of around $350 soon.</p>
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<p>The post <a href="https://captainaltcoin.com/bitcoin-cash-on-the-verge-eyes-350-target-as-bch-bulls-rally-for-unprecedented-momentum/" rel="noopener noreferrer nofollow">Bitcoin Cash Eyes $350 as BCH Bulls Take Control, but There’s a Catch</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin Cash Eyes $350 as BCH Bulls Take Control, but There’s a Catch

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