{"id":118699,"date":"2021-03-27T21:01:31","date_gmt":"2021-03-27T21:01:31","guid":{"rendered":"https:\/\/precoinnews.com\/?p=118699"},"modified":"2021-03-27T21:01:31","modified_gmt":"2021-03-27T21:01:31","slug":"bitcoin-cash-analysis-upsides-likely-to-be-capped-near-500","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-cash-analysis-upsides-likely-to-be-capped-near-500\/","title":{"rendered":"Bitcoin Cash Analysis: Upsides Likely To Be Capped Near $500"},"content":{"rendered":"
Bitcoin cash price is consolidating losses above $445 against the US Dollar, similar to bitcoin. BCH\/USD could recover, but the bears are likely to remain active near $500.<\/em><\/p>\n After a failed attempt to clear the $550 zone, bitcoin cash price started a fresh decline. BCH price broke the $510 and $500 support levels to move into a bearish zone.<\/p>\n There was a drop below the $480 support and the 55 simple moving average (4-hours). It traded as low as $442 and it is now consolidating losses. An initial resistance on the upside is near the $485 level. It is close to the 50% Fib retracement level of the downward move from the $530 high to $442 low.<\/p>\n There is also a major bearish trend line forming with resistance near $505 on the 4-hours chart of the BCH\/USD pair. The trend line is close to the 76.4% Fib retracement level of the downward move from the $530 high to $442 low.<\/p>\n The 55 simple moving average (4-hours) is also near the $520 level. Clearly, there is a cluster of hurdles forming near the $500, $510 and $520 levels.<\/p>\n A successful break above the $510 and $520 levels is must for upside continuation. On the downside, the $460 level is a decent support. The main support is now forming near the $445 level. If there is a downside break below the $445 support, there is a risk of a drop towards the $420 and $410 levels.<\/p>\n <\/p>\n Bitcoin Cash Price<\/p>\n Looking at the chart, bitcoin cash price is clearly trading well below the $500 level and the 55 simple moving average (4-hours). Overall, the price could correct higher, but upsides are likely to be capped near $500 and $510.<\/p>\n 4 hours MACD \u2013 The MACD for BCH\/USD is now gaining pace in the bearish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for BCH\/USD is well below the 50 level.<\/p>\n Key Support Levels \u2013 $460 and $445.<\/p>\n Key Resistance Levels \u2013 $500 and $510.<\/p>\nBitcoin Cash Price Analysis<\/h2>\n
Technical indicators<\/h2>\n