Crypto

Who will win the $ 1,500 battle against Bitcoin Cash?

  • Bitcoin Cash (BCH) has recently recovered.
  • On the hourly chart of the BCH / USD, however, there was a break below the short term contract triple model with the support of $ 1,450.
  • The pair could fall a few points towards the $ 1,400 and $ 1,380 support levels.
  • As you can see in the chart, Bitcoin Cash is continuing its fight with $ 1,500.

Bitcoin Cash is trying to gain over $ 1,500 against the US dollar.

Bitcoin Cash's $ 1,500 struggle continues at full speed!

During the weekend, Bitcoin Cash improved to $ 1,450 against the US dollar, which is a good improvement, as buyers lose control in the short term it was. However, the price tried to break the resistance of $ 1,500, which was a support before. What's more, the 100-hour simple moving average of $ 1,490 is now a big hurdle for buyers. The price is now moving downwards, raising the rebounder's 23.6% Fib reversal rate from $ 1,266 to $ 1,505.

During the decline, there was a breach below the short-term contract pattern of the BCH / USD in the hourly chart with $ 1,450 support. The $ 1,500 barriers and declines seen as very important resistance have been hampered. Bitcoin Cash may be further reduced and may rise to $ 1.505 from $ 1,266 towards the 50% Fib retreat of the last wave.

 Who will win the $ 1,500 challenge of Bitcoin Cash?
Who will win the $ 1,500 challenge of Bitcoin Cash?

Looking at the chart, Bitcoin Cash is currently facing a small decline pressure of $ 1,480 and under 100 hours of SMA. If buyers can achieve speeds of $ 1,500 and 100 hours of SMA, more revenue can be gained.

Hourly MACD: The MACD for the BCH / USD moves slowly in the downward area

The next resistance in the case may be $ 1,620

Hourly RSI: The RSI for the BCH / USD fell below the level of 50.

Main Support Level: $ 1.380

Major Resistance Level: $ 1,500

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