{"id":164611,"date":"2022-09-30T07:38:00","date_gmt":"2022-09-30T07:38:00","guid":{"rendered":"https:\/\/precoinnews.com\/?p=164611"},"modified":"2022-09-30T07:38:00","modified_gmt":"2022-09-30T07:38:00","slug":"bitcoin-cash-analysis-bulls-aim-upside-break-above-120","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-cash-analysis-bulls-aim-upside-break-above-120\/","title":{"rendered":"Bitcoin Cash Analysis: Bulls Aim Upside Break above $120"},"content":{"rendered":"
Bitcoin cash price is climbing above $115 against the US Dollar, similar to bitcoin. BCH\/USD could start a fresh surge if it clears the $120 level.<\/em><\/p>\n Bitcoin cash price formed a decent support base above the $110 level. BCH started a recovery wave and was able to clear the $112 resistance zone.<\/p>\n The price climbed above the $115 and $116 resistance levels. The pair surpassed the 23.6% Fib retracement level of the downward move from the $138 swing high to $106 low. It is now trading above the $115 zone and the 55 simple moving average (4-hours).<\/p>\n However, the price seems to be facing hurdles near the $118 and $120 levels. There is also a major bearish trend line forming with resistance near $118 on the 4-hours chart of the BCH\/USD pair.<\/p>\n The next major resistance is near the $122 level. It is close to the 50% Fib retracement level of the downward move from the $138 swing high to $106 low, above which the price may perhaps rise towards the $130 level. Any more gains above $128 and $130 could set the pace for a move towards the $140 level.<\/p>\n Conversely, the price might trim gains and start a fresh decline below the $115 level and the 55 simple moving average (4-hours). An immediate support on the downside is near the $112 zone.<\/p>\n The next major support is near the $110 level, below which the bears might aim $105. The next target for them may perhaps be near the $100 level.<\/p>\n <\/p>\n Bitcoin Cash Price<\/p>\n Looking at the chart, bitcoin cash price is now trading above the $115 zone and the 55 simple moving average (4-hours). Overall, the price must clear $118 and $120 to continue higher in the near term.<\/p>\n 4 hours MACD \u2013 The MACD for BCH\/USD is 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 $112 and $110.<\/p>\n Key Resistance Levels \u2013 $120 and $122.<\/p>\nBitcoin Cash Price Analysis<\/h2>\n
Technical indicators<\/h2>\n