{"id":107802,"date":"2021-01-08T08:38:19","date_gmt":"2021-01-08T08:38:19","guid":{"rendered":"https:\/\/precoinnews.com\/?p=107802"},"modified":"2021-01-08T08:38:19","modified_gmt":"2021-01-08T08:38:19","slug":"bitcoin-cash-analysis-fresh-rally-likely-if-bch-clears-450","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/altcoins\/bitcoin-cash-analysis-fresh-rally-likely-if-bch-clears-450\/","title":{"rendered":"Bitcoin Cash Analysis: Fresh Rally Likely If BCH Clears $450"},"content":{"rendered":"

Bitcoin cash price started a strong increase above $400 against the US Dollar, similar to bitcoin. BCH\/USD is correcting gains from $485, but dips are likely to be limited.<\/em><\/p>\n

Bitcoin Cash Price Analysis<\/h2>\n

After forming a support base near the $320 level, bitcoin cash price started a strong increase. BCH price broke many hurdles near $300 and $320 to move into a positive zone.<\/p>\n

The upward move gained pace above the $420 level and the 55 simple moving average (4-hours). The price even surged above the $450 level. It traded close to the $490 level and a new multi-month high was formed near $486.<\/p>\n

Recently, there was a downside correction below the $450 and $430 support levels. The price even spiked below the $420 support, but the bulls protected the $400 zone. A low is formed near $401 and the price is currently showing a lot of positive signs.<\/p>\n

There was a close above the $420 level. The price surpassed the 23.6% Fib retracement level of the recent decline from the $486 high to $401 low.<\/p>\n

There is also a key rising channel forming with support near $420 on the 4-hours chart of the BCH\/USD pair. An initial resistance on the upside is near the $440 level. The 50% Fib retracement level of the recent decline from the $486 high to $401 low is also near the $442 level to act as a resistance.<\/p>\n

A clear break above the $440 and $442 levels could open the doors for a fresh increase. The next major hurdle is at $450, above which the price could revisit the $450 level.<\/p>\n

On the downside, the price is likely to remain stable above $420. The main support is still near the $400 level. Any more losses could put a lot of pressure on the bears and the price might test $365.<\/p>\n

<\/p>\n

Bitcoin Cash Price<\/p>\n

Looking at the chart, bitcoin cash price is clearly holding gains above $400 and the 55 SMA (H4). Overall, the price start a fresh increase as long as it is above the $420 and $400 levels in the near term.<\/p>\n

Technical indicators<\/h2>\n

4 hours MACD \u2013 The MACD for BCH\/USD is slowly losing pace in the bearish zone.<\/p>\n

4 hours RSI (Relative Strength Index) \u2013 The RSI for BCH\/USD is currently close to the 50 level.<\/p>\n

Key Support Levels \u2013 $420 and $400.<\/p>\n

Key Resistance Levels \u2013 $440 and $480.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin cash price started a strong increase<\/p>\n","protected":false},"author":3,"featured_media":107801,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"yoast_head":"\nBitcoin Cash Analysis: Fresh Rally Likely If BCH Clears $450 - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/altcoins\/bitcoin-cash-analysis-fresh-rally-likely-if-bch-clears-450\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Cash Analysis: Fresh Rally Likely If BCH Clears $450 - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Bitcoin cash price started a strong increase\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/altcoins\/bitcoin-cash-analysis-fresh-rally-likely-if-bch-clears-450\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-08T08:38:19+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/01\/ccryptafotoBitcoin-Cash.png\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/altcoins\/bitcoin-cash-analysis-fresh-rally-likely-if-bch-clears-450\/\",\"url\":\"https:\/\/precoinnews.com\/altcoins\/bitcoin-cash-analysis-fresh-rally-likely-if-bch-clears-450\/\",\"name\":\"Bitcoin Cash Analysis: Fresh Rally Likely If BCH Clears $450 - 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