- Bitcoin Cash price has moved above the $300 mark once more
- The digital currency is expected to reach the resistance at $305
- BCH will move past $330 before approaching $336
Bitcoin Cash News Today – the price of Bitcoin Cash has now returned above the $300 area once more. This was the price action that ended the session on August 3. The virtual currency is expected to reach the major resistance area that lies at $305.
Although the BCH price is still shaky. The coin is now returning to a position below this mark. For the lowest point of the day for the digital currency was when it approached the $280.12 area. At press time, the price of Bitcoin Cash was trading at $299.71. Now that the price of Bitcoin Cash has crossed the $300 area what can we expect the coins’ next price action?
The Price of Bitcoin Cash Approaches the $293 Area
The price of Bitcoin Cash approached the $293 area as one analyst predicted. According to the Trading View analyst, the Hex Flex BCH price will move short to the $293 area. Flex predicted this after drawing an ascending trendline for the BCH/USD trading pair.
The analyst also claims that before moving short, the digital asset will first test the significant resistance position $302. It is after reaching here that it turned bearish for a time via the 1-hour chart for BCH/USD and moved shortly to the $293 mark. The digital currency also bounced off an ascending trendline that helped it move towards the $300 price area. It is important to note that the price of BCH managed to complete this price presented above by the TradingView analyst.
BCH Will Move Past $330 Before Approaching $336
Bitcoin Cash price will move above $330 before sustaining a move to the $336 area. That’s the position of another Trading View analyst called Generation Forex after laying out the trade orders for BCH/USD on the 15-minute chart. The analyst was able to mark the stop-loss beneath an ascending trendline and under the $278 price position. The analyst also suggested that traders can take half profit from the above-mentioned BCH/USD trade.
After this, they can move the stop-loss order to the profit zone. This move is a buy setup for BCH. According to the chart above, the digital currency can be seen trading in the buy area, just above this trendline. Going by this idea, the price of BCH should move above the $330 area before sustaining a move to the buy stop above $336. Should this trade idea come into play, the crypto will move past $330.