{"id":27174,"date":"2023-07-24T05:54:01","date_gmt":"2023-07-24T09:54:01","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=27174"},"modified":"2023-07-24T05:54:01","modified_gmt":"2023-07-24T09:54:01","slug":"bitcoin-cash-price-could-restart-rally-to-300-if-it-breaks-this-resistance","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/24\/bitcoin-cash-price-could-restart-rally-to-300-if-it-breaks-this-resistance\/","title":{"rendered":"Bitcoin Cash Price Could Restart Rally To $300 If It Breaks This Resistance"},"content":{"rendered":"

Bitcoin Cash price started a downside correction and tested $230 against the US Dollar. BCH might aim a fresh rally toward the $280 and $300 levels.<\/em><\/p>\n

Bitcoin cash price is consolidating above the $230 level against the US Dollar.
\nThe price is trading below $255 and the 100 simple moving average (4 hours).
\nThere was a break above a key bearish trend line with resistance near $242 on the 4-hour chart of the BCH\/USD pair (data feed from Kraken).
\nThe pair is likely to accelerate higher if it clears $255 and $265.<\/p>\n

Bitcoin Cash Price Prepares For The Next Move<\/h2>\n

After a strong rally, Bitcoin Cash price faced sellers near the $300 zone. BCH traded as high as $294 and started a downside correction, like Bitcoin<\/a> and Ethereum<\/a>. There was a move below the $280 pivot level.<\/p>\n

The price even declined below $255 before the bulls appeared near $230. A low is formed near $232 and the price is now slowly moving higher. There was a break above a key bearish trend line with resistance near $242 on the 4-hour chart of the BCH\/USD pair.<\/p>\n

The pair cleared the 23.6% Fib retracement level of the downward move from the $294 high to the $232 low. Bitcoin Cash is now trading below $265 and the 100 simple moving average (4 hours).<\/p>\n

Immediate resistance is near the $255 level. The next major resistance is near $265 or the 100 simple moving average (4 hours). It is close to the 50% Fib retracement level of the downward move from the $294 high to the $232 low.<\/p>\n\n

Source: BCH\/USD on TradingView.com<\/a><\/p>\n

Any further gains could lead the price toward the $280 and $285 resistance levels in the near term. The next major hurdle is near the $300 level.<\/p>\n

Dips Supported in BCH?<\/h2>\n

If Bitcoin Cash price fails to clear the $255 resistance, it could start a fresh decline. Initial support on the downside is near the $240 level.<\/p>\n

The next major support is near the $232 level, where the bulls are likely to appear. If the price fails to stay above the $232 support, the price could test the $220 support. Any further losses could lead the price toward the $200 handle in the near term.<\/p>\n

Technical indicators<\/p>\n

4-hour MACD \u2013 The MACD for BCH\/USD is gaining pace in the bullish zone.<\/p>\n

4-hour RSI (Relative Strength Index) \u2013 The RSI is currently above the 50 level.<\/p>\n

Key Support Levels \u2013 $240 and $232.<\/p>\n

Key Resistance Levels \u2013 $255 and $265.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin Cash price started a downside correction and tested $230 against the US Dollar. BCH might aim a fresh rally toward the $280 and $300 levels.<\/em><\/p>\n

Bitcoin cash price is consolidating above the $230 level against the US Dollar.
\nThe price is trading below $255 and the 100 simple moving average (4 hours).
\nThere was a break above a key bearish trend line with resistance near $242 on the 4-hour chart of the BCH\/USD pair (data feed from Kraken).
\nThe pair is likely to accelerate higher if it clears $255 and $265.<\/p>\n

Bitcoin Cash Price Prepares For The Next Move<\/h2>\n

After a strong rally, Bitcoin Cash price faced sellers near the $300 zone. BCH traded as high as $294 and started a downside correction, like Bitcoin<\/a> and Ethereum<\/a>. There was a move below the $280 pivot level.<\/p>\n

The price even declined below $255 before the bulls appeared near $230. A low is formed near $232 and the price is now slowly moving higher. There was a break above a key bearish trend line with resistance near $242 on the 4-hour chart of the BCH\/USD pair.<\/p>\n

The pair cleared the 23.6% Fib retracement level of the downward move from the $294 high to the $232 low. Bitcoin Cash is now trading below $265 and the 100 simple moving average (4 hours).<\/p>\n

Immediate resistance is near the $255 level. The next major resistance is near $265 or the 100 simple moving average (4 hours). It is close to the 50% Fib retracement level of the downward move from the $294 high to the $232 low.<\/p>\n

Source: BCH\/USD on TradingView.com<\/a><\/p>\n

Any further gains could lead the price toward the $280 and $285 resistance levels in the near term. The next major hurdle is near the $300 level.<\/p>\n

Dips Supported in BCH?<\/h2>\n

If Bitcoin Cash price fails to clear the $255 resistance, it could start a fresh decline. Initial support on the downside is near the $240 level.<\/p>\n

The next major support is near the $232 level, where the bulls are likely to appear. If the price fails to stay above the $232 support, the price could test the $220 support. Any further losses could lead the price toward the $200 handle in the near term.<\/p>\n

Technical indicators<\/p>\n

4-hour MACD \u2013 The MACD for BCH\/USD is gaining pace in the bullish zone.<\/p>\n

4-hour RSI (Relative Strength Index) \u2013 The RSI is currently above the 50 level.<\/p>\n

Key Support Levels \u2013 $240 and $232.<\/p>\n

Key Resistance Levels \u2013 $255 and $265.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-27174","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/27174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=27174"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/27174\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=27174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=27174"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=27174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}