{"id":139032,"date":"2021-09-17T12:21:26","date_gmt":"2021-09-17T12:21:26","guid":{"rendered":"https:\/\/precoinnews.com\/?p=139032"},"modified":"2021-09-17T12:21:26","modified_gmt":"2021-09-17T12:21:26","slug":"bitcoin-cash-analysis-recovery-above-660-seems-possible","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-cash-analysis-recovery-above-660-seems-possible\/","title":{"rendered":"Bitcoin Cash Analysis: Recovery Above $660 Seems Possible"},"content":{"rendered":"
Bitcoin cash price is eyeing recovery above $660 against the US Dollar, similar to bitcoin. BCH\/USD could resume its decline if it fails to clear $660.<\/em><\/p>\n Bitcoin cash price started a major decline from well above $720. BCH broke the $700 support level and the 55 simple moving average (4-hours) to move into a bearish zone.<\/p>\n It even traded below $650 and spiked below $600. A low was formed near $584 before the price started an upside correction. There was a break above the 23.6% Fib retracement level of the downward move from the $805 swing high to $582 low.<\/p>\n There was also a break above a key bearish trend line with resistance near $640 on the 4-hours chart of the BCH\/USD pair. The pair is now trading near the $650 zone and the 55 simple moving average (4-hours).<\/p>\n It is now facing a strong resistance near the $650 zone. The next major resistance could be $660. The main breakout zone is near the $700 level. It is close to the 50% Fib retracement level of the downward move from the $805 swing high to $582 low.<\/p>\n A clear break above $660 and $700 might trigger a sharp upward move. On the downside, an initial support is near the $625 level. A downside break below the $625 support zone could open the doors for a fresh decline. The next major support is near the $600 level, below which the bears might aim a test of $550.<\/p>\n <\/p>\n Bitcoin Cash Price<\/p>\n Looking at the chart, bitcoin cash price is now trading near the $650 zone and the 55 simple moving average (4-hours). Overall, the price could continue to rise if it clears the $650 and $660 resistance levels.<\/p>\n 4 hours MACD \u2013 The MACD for BCH\/USD is now gaining pace in the bullish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for BCH\/USD is above the 50 level.<\/p>\n Key Support Levels \u2013 $625 and $600.<\/p>\n Key Resistance Levels \u2013 $660 and $700.<\/p>\nBitcoin Cash Price Analysis<\/h2>\n
Technical indicators<\/h2>\n