The Bitcoin Cash price may continue to show a bullish movement if the market could rise above the $130 resistance level.
Bitcoin Cash (BCH) Statistics Data:
- Bitcoin Cash price now – $128.33
- Bitcoin Cash market cap – $2.45 billion
- Bitcoin Cash circulating supply – 19.1 million
- Bitcoin Cash total supply – 19.1 million
- Bitcoin Cash Coinmarketcap ranking – #30
Resistance levels: $150, $170, $190
Support levels: $100, $80, $60
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BCH/USD has been showing some positive movements since yesterday as the market crosses above the 9-day and 21-day moving averages. Apart from this, the Bitcoin Cash price still has to conquer the resistance level of $30 and traders can expect the price to continue to rise as soon as this is done.
Bitcoin Cash Price Shoots to the North as Tamadoge Trades Bullishly
The daily chart shows that the Bitcoin Cash price is creating a new positive trend, the market price will experience a bullish continuation towards the upper boundary of the channel which could test the resistance level of $140. Similarly, the technical indicator reveals Relative Strength Index (14) crosses above the 50-level as this may locate the potential resistance levels at $150, $170, and $190 in the long term.
However, if the Bitcoin Cash price maintains the bullish movement, traders may witness additional bullish trends in the coming trading sessions. Meanwhile, a bearish breakdown may likely play out for this market if the Bitcoin Cash price withdraws back below the moving averages, and this could roll the coin back to the long-term supports at $100, $80, and $60.
Against Bitcoin, the Bitcoin Cash price follows the bullish movement as the coin moves to the upside. More so, if the pair touches the resistance level of 7000 SAT, the market is likely to keep releasing more bullish pressure as the technical indicator Relative Strength Index (14) moves to cross into the overbought region, which indicates that more bullish signals are going to play out.
In other words, if BCH/BTC slides below the 9-day and 21-day moving averages, it could bring the coin to the nearest support at 6000 SAT, and any further bearish movement could lower the price to the support level of 5500 SAT and below. Nevertheless, if the coin continues to follow a bullish movement and crosses above the upper boundary of the channel, it could hit the resistance level at 7400 SAT and above.
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