- Bitcoin Cash (BCH) price is moving in the resistance zone of 180 – 189 dollars.
- If BCH breaks the resistance at 190 dollars, it can continue its rise towards the 200 dollar levels.
- If BCH holds the support zone of 180 – 189 dollars, the next target could be 259 dollars.
When examining the current technical chart of Bitcoin Cash, it is observed that BCH is moving in an important resistance zone. With the break of the 190 dollar resistance, it is expected that the upward movement will continue and progress towards the 200 dollar levels.
Medium-Term BCH Price Analysis
When examining the current technical chart of Bitcoin Cash, it is observed that the price is moving in the important resistance zone of 180 – 189 dollars. If BCH breaks the 190 dollar resistance, it can continue its rise towards the 200 dollar levels.
If BCH makes daily candlestick closes above the mentioned resistance zone in the analysis, the next target will be 259 dollars. For this rise to occur, it is important for BCH to hold the support zone of 180 – 189 dollars.
However, if BCH fails to break the resistance at 180 – 189 dollars, it can extend the downward movement towards the 165 dollar levels. If BCH encounters strong buyers at the 165 dollar level, it can show an upward trend again.
Short-Term BCH Price Analysis
Bitcoin Cash/USD Price Chart
When examining the technical chart of Bitcoin Cash, it is observed that the price initiated an upward movement by surpassing the 182.49 dollar resistance.
If BCH remains above the 182.49 dollar level, it can continue its rise towards the 205.44 dollar levels. However, if BCH makes closes below the 182.49 dollar support, it can extend the downward movement towards the 165.23 dollar support.
If BCH manages to hold strong at the 165 dollar support, it can start rising again. Considering that BCH is in a 2-day resistance zone, it is important to be cautious in long/short trades.
