{"id":131577,"date":"2021-07-08T13:48:49","date_gmt":"2021-07-08T13:48:49","guid":{"rendered":"https:\/\/precoinnews.com\/?p=131577"},"modified":"2021-07-08T13:48:49","modified_gmt":"2021-07-08T13:48:49","slug":"bitcoin-cash-in-a-sideways-trend-battles-the-540-overhead-resistance","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-cash-in-a-sideways-trend-battles-the-540-overhead-resistance\/","title":{"rendered":"Bitcoin Cash in a Sideways Trend, Battles the $540 Overhead Resistance"},"content":{"rendered":"

Bitcoin Cash (BCH) has made positive moves to the upside since June 23. However, buyers have failed to break the $540 overhead resistance.<\/strong><\/p>\n

Today, buyers are pushing the cryptocurrency higher as the market reaches the $526 high. Currently, BCH is facing resistance as price approaches the resistance zone.<\/p>\n

On the upside, if buyers break above resistance at $540, BCH will rise to either $740 or $820. The bulls have failed to push the altcoin above overhead resistance. In previous price action, the bulls were pushed back on June 29 and July 4 when BCH price tried to break through the resistance level. Moreover, BCH \/USD is approaching the overbought region of the market. Therefore, further upside above $540 is doubtful.<\/p>\n

Bitcoin Cash indicator reading<\/h2>\n

BCH is above the 80% area of the daily stochastic. This indicates that the market has reached the overbought zone, suggesting that sellers are likely to emerge. The 21-day and 50-day SMAs are sloping downward, indicating a downtrend. BCH \/USD has risen to level 47 on the Relative Strength Index period 14. The altcoin is in the downtrend zone and below the midline 50.<\/p>\n

Technical indicators: <\/h3>\n

Major Resistance Levels – $1,800 and $2,000 <\/b><\/p>\n

<\/b><\/p>\n

Major Support Levels – $600 and $400<\/b><\/p>\n

What is the next move for Bitcoin Cash?<\/h2>\n

Bitcoin Cash is in a sideways trend below the $540 overhead resistance. The Fibonacci tool has indicated a possible upside move in the cryptocurrency. Meanwhile, on June 29 uptrend, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement suggests that BCH will rise to the 1,618 Fibonacci Extension level or the $616.56 level. From the price action, it appears that the bulls have not yet broken through the resistance at $540.<\/p>\n

Disclaimer. This analysis and forecast are the personal opinions of the author and are 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.<\/span><\/i><\/p>\n

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

Bitcoin Cash (BCH) has made positive moves<\/p>\n","protected":false},"author":3,"featured_media":131576,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nBitcoin Cash in a Sideways Trend, Battles the $540 Overhead Resistance - 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\/crypto\/bitcoin-cash-in-a-sideways-trend-battles-the-540-overhead-resistance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Cash in a Sideways Trend, Battles the $540 Overhead Resistance - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Bitcoin Cash (BCH) has made positive moves\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/bitcoin-cash-in-a-sideways-trend-battles-the-540-overhead-resistance\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-08T13:48:49+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\/07\/Bitcoin-Cash-in-a-Sideways-Trend-Battles-the-540-Overhead-Resistance.jpg\" \/>\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\/crypto\/bitcoin-cash-in-a-sideways-trend-battles-the-540-overhead-resistance\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/bitcoin-cash-in-a-sideways-trend-battles-the-540-overhead-resistance\/\",\"name\":\"Bitcoin Cash in a Sideways Trend, Battles the $540 Overhead Resistance - 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