{"id":111584,"date":"2021-02-05T16:21:51","date_gmt":"2021-02-05T16:21:51","guid":{"rendered":"https:\/\/precoinnews.com\/?p=111584"},"modified":"2021-02-05T16:21:51","modified_gmt":"2021-02-05T16:21:51","slug":"bitcoin-cash-continues-to-push-on-the-upside-can-bulls-break-the-initial-resistance-levels","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-cash-continues-to-push-on-the-upside-can-bulls-break-the-initial-resistance-levels\/","title":{"rendered":"Bitcoin Cash Continues to Push on the Upside, Can Bulls Break the Initial Resistance Levels?"},"content":{"rendered":"
Bitcoin Cash bulls are desperate as they attempt to break the $440 resistance today. Yesterday\u2019s attempt at the resistance was disappointing as the coin fell to the low of $412. <\/strong><\/p>\n Before now, the altcoin has been fluctuating between $400 and $440 for the past two weeks. On January 26, the bears broke the $400 support as BCH declined to $389 low. <\/p>\n The bulls buy the dips to push BCH to $460 high. However, BCH faced another rejection at the high of $460. The altcoin is now confined between $400 and $440. The coin will resume selling pressure if the $400 support is breached. On the other hand, BCH will resume an uptrend if the $440 resistance is breached. If the bullish momentum is sustained, BCH will reach a high of $500.<\/p>\n The crypto\u2019s price is attempting to break above the SMAs. A break above the SMAs will accelerate the upward movement of the coin. The crypto is at level 51 of the Relative Strength index period 14. It indicates that there is a balance between supply and demand. <\/p>\n <\/p>\n Major Resistance Levels \u2013 $480 and $440<\/p>\n Major Support Levels \u2013 $400 and $360<\/p>\n BCH has resumed an upward move as bulls attempt to break the initial resistance levels. On February 4 uptrend; the retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that BCH is likely to rise to level 2.0 Fibonacci extension. In other words, BCH will rise to a high of $520.83.<\/p>\n <\/p>\n Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their own research before investing funds.<\/i><\/p>\nBitcoin Cash indicator reading <\/h2>\n
Technical indicators: <\/h3>\n
What is the next move for Bitcoin Cash? <\/h2>\n