CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$48,860.00
  • ethereum
    ETH$1,523.78
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Crypto News » Bitcoin Cash ABC Price Analysis: BCH Rebounds At Strong Support – Back Above $400 Soon?

    Bitcoin Cash ABC Price Analysis: BCH Rebounds At Strong Support – Back Above $400 Soon?

    Author: Yaz Sheikh

    Last Updated Dec 18, 2019 @ 14:25

    Bitcoin Cash may have seen a sharp price decline of 11% over the past 7 trading days, dragging the current price down to around $392, but the cryptocurrency is still up by 34% over the past 30 days with a further price explosion of 199% over the past 3 months.

    Bitcoin Cash has been on a magnificent bullish run which has now allowed it to climb to the 4th place amongst the top cryptocurrencies by market cap value. Its total capitalization is currently $7.04 billion.

    The cryptocurrency had managed to surge to a high above $480 during May 2019 but it has since fallen to where it currently trades at around $392.

    Looking at the BCH/USD 1-Day Chart:

    • Against the US Dollar, we can see that Bitcoin Cash has fallen from the May 2018 highs and is now currently trading at support around the $382 level, provided by a short term .382 Fibonacci Retracement level (marked in green).
    • From above: The nearest level of resistance now lies between $420 and $423. The resistance at $423 is provided by a long term bearish .618 Fibonacci Retracement level (marked in red) measured from the November 2018 high to the December 2018 low.
    • If buyers continue to climb above the resistance at $432 and $450,  further resistance is then expected at $472 and $500. Above $500, higher resistance lies at $517 (bearish .786 Fib Retracement) and $573 (bearish .886 Fib Retracement). The final level of resistance to highlight the above lies at the November 2018 high at around $628.
    • From below: The nearest level of support now lies at $382. Beneath this, further support can be found at $353 which is strengthened by the 50 days EMA and short term .5 Fibonacci Retracement. Beneath $350, further support lies at $324, $300 and $293 (which contains the 100 days EMA and 200 days EMA).
    • The trading volume has been decreasing aggressively during mid-May 2019 but has started to show some signs of increasing in June 2019.
    • The RSI has recently slipped beneath the 50 level which indicates that the sellers are in control of the market momentum. However, the Stochastic RSI is currently trading in extreme oversold conditions which suggests that this current period of selling should not last much longer as we look for a crossover above to send a bullish signal to traders.

    bchusd_jun5-min

    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Enjoy reading? Please share:
    Facebook Twitter LinkedIn Telegram
    Read more on: Bitcoin Cash (BCH) Price

    About The Author

    Yaz Sheikh View more posts by this author

    Yaz is a cryptocurrency technical analyst with over seven years of technical analysis trading experience. As an Economics graduate, he has taken a keen interest in the future potentials of blockchain in the financial industry. Removing crypto from the equation, Yaz loves to watch his favorite football team and keep up-to-date with the latest fights within the UFC.

  • bitcoin
    BTC$48,860.00
  • ethereum
    ETH$1,523.78
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    ADVERTISEMENT
    pionexb
    2local
    Bitcoin Editorials
    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!