Bitcoin Cash

Bitcoin

Resistance

Read

<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; 
Read Also: <a class="row-title" href="https://bitcoinworld.co.in/are-you-a-beginner-crypto-trader-avoid-these-7-common-mistakes/" aria-label="“Are You A Beginner Crypto Trader? Avoid These 7 Common Mistakes” (Edit)">Are You A Beginner Crypto Trader? Avoid These 7 Common Mistakes</a> 
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

目录

ItsBitcoinWorld

发布于 2023年12月4日的其他文章

Coinbase CEO foresees long-term coexistence of fiat and crypto

Why Crypto Market is up today? Here Are Top Factors

U.S. Space Force Major advocates for Bitcoin in national defense

USTC skyrockets after LUNC vote as rising AI altcoin trends on Reddit

Financial giant SoFi quits crypto offerings amid regulatory heat – What’s next for investors?

Ethereum Price Jumps Over The $2,200 Mark

订阅我们免费的电子期刊，获取每日最新加密领域动态！