{"id":36018,"date":"2024-02-12T05:53:26","date_gmt":"2024-02-12T09:53:26","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=36018"},"modified":"2024-02-12T05:53:26","modified_gmt":"2024-02-12T09:53:26","slug":"bitcoin-cash-price-solid-15-gain-signs-point-to-fresh-bch-rally-ahead","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/12\/bitcoin-cash-price-solid-15-gain-signs-point-to-fresh-bch-rally-ahead\/","title":{"rendered":"Bitcoin Cash Price Solid 15% Gain: Signs Point to Fresh BCH Rally Ahead"},"content":{"rendered":"

Bitcoin Cash price rallied over 15% and broke the $275 resistance. BCH is now facing strong resistance near the $282 zone.<\/em><\/p>\n

Bitcoin cash price started a fresh surge above the $250 resistance.
\nThe price is trading above $265 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support at $258 on the 4-hour chart of the BCH\/USD pair (data feed from Kraken).
\nThe pair could continue to move up if it clears the $282 resistance zone.<\/p>\n

Bitcoin Cash Price Rallies Above $270<\/h2>\n

After forming a base above the $232 level, Bitcoin Cash price started a steady increase. It broke the $245 resistance to enter a positive zone, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a strong increase above the $250 and $265 resistance levels. The price gained over 15% and tested the $282 resistance. A high was formed near $283 and the price is now correcting gains. There was a move below the $275 level.<\/p>\n

The price tested the 23.6% Fib retracement level of the upward move from the $233 swing low to the $283 high. BCH is now showing positive signs above $260 and the 100 simple moving average (4 hours).<\/p>\n

<\/a><\/p>\n

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

There is also a key bullish trend line forming with support at $258 on the 4-hour chart of the BCH\/USD pair. If there is another increase, the price might face resistance near $275. To continue higher, the price must settle above $282. The next major resistance is near $292, above which the price might accelerate higher toward the $300 level. Any further gains could lead the price toward the $320 resistance zone.<\/p>\n

Fresh Drop in BCH?<\/h2>\n

If Bitcoin Cash price fails to clear the $275 resistance, it could start a fresh decline. Initial support on the downside is near the $265 level.<\/p>\n

The next major support is near the $258 level or the trend line. It is close to the 50% Fib retracement level of the upward move from the $233 swing low to the $283 high, where the bulls are likely to appear. If the price fails to stay above the $258 support, the price could test the $245 support. Any further losses could lead the price toward the $232 zone in the near term.<\/p>\n

Technical indicators<\/p>\n

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

4-hour RSI (Relative Strength Index) \u2013 The RSI is currently in the overbought zone.<\/p>\n

Key Support Levels \u2013 $265 and $258.<\/p>\n

Key Resistance Levels \u2013 $275 and $282.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin Cash price rallied over 15% and broke the $275 resistance. BCH is now facing strong resistance near the $282 zone.<\/em><\/p>\n

Bitcoin cash price started a fresh surge above the $250 resistance.
\nThe price is trading above $265 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support at $258 on the 4-hour chart of the BCH\/USD pair (data feed from Kraken).
\nThe pair could continue to move up if it clears the $282 resistance zone.<\/p>\n

Bitcoin Cash Price Rallies Above $270<\/h2>\n

After forming a base above the $232 level, Bitcoin Cash price started a steady increase. It broke the $245 resistance to enter a positive zone, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a strong increase above the $250 and $265 resistance levels. The price gained over 15% and tested the $282 resistance. A high was formed near $283 and the price is now correcting gains. There was a move below the $275 level.<\/p>\n

The price tested the 23.6% Fib retracement level of the upward move from the $233 swing low to the $283 high. BCH is now showing positive signs above $260 and the 100 simple moving average (4 hours).<\/p>\n

<\/a><\/p>\n

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

There is also a key bullish trend line forming with support at $258 on the 4-hour chart of the BCH\/USD pair. If there is another increase, the price might face resistance near $275. To continue higher, the price must settle above $282. The next major resistance is near $292, above which the price might accelerate higher toward the $300 level. Any further gains could lead the price toward the $320 resistance zone.<\/p>\n

Fresh Drop in BCH?<\/h2>\n

If Bitcoin Cash price fails to clear the $275 resistance, it could start a fresh decline. Initial support on the downside is near the $265 level.<\/p>\n

The next major support is near the $258 level or the trend line. It is close to the 50% Fib retracement level of the upward move from the $233 swing low to the $283 high, where the bulls are likely to appear. If the price fails to stay above the $258 support, the price could test the $245 support. Any further losses could lead the price toward the $232 zone in the near term.<\/p>\n

Technical indicators<\/p>\n

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

4-hour RSI (Relative Strength Index) \u2013 The RSI is currently in the overbought zone.<\/p>\n

Key Support Levels \u2013 $265 and $258.<\/p>\n

Key Resistance Levels \u2013 $275 and $282.<\/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-36018","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\/36018","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=36018"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36018\/revisions"}],"predecessor-version":[{"id":36023,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36018\/revisions\/36023"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36018"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}