Bitcoin Cash (BCH) Gains Traction Breaking Major Resistances Against The USD 

Bitcoin Cash has been bullish against the USD over the past few trading sessions. The price action took the token above the $840 and $850 resistance levels breaking above the declining channel that had resistance at $810. According to the BCH price analysis of Aayush Jindal from NewsBtc, Bitcoin Cash is firmly in the uptrend and may rise to the $890 and $900 resistance levels soon.

BCH Price Analysis For July 25

Bitcoin Cash is moving higher against the USD and it will most likely move above $880 soon. The buying interest increased around $770. The buyers pushed the price up above the resistance at $800. This upward move settled above the resistance at $825 and above the 100 hourly SMA.

Bitcoin Cash (BCH) Price Today – BCH / USD

Bitcoin Cash

Later, the buyers pushed the price above the resistance at $840 and $850. Bitcoin Cash traded as high as $877 before it started consolidating its gains. There was support around the 23.6% Fibonacci retracement levels of the last rise from $772 to $877. From the BCH price analysis, the trading pair is going to move toward the $840 support if the price continues to correct below $850. On the other hand, there is a significant support around the 50% Fibonacci retracement levels of the last rise from $772 to $877. If the price falls below this level, it will find support around $810.

Bitcoin Cash Technical Analysis

The technical charts show that BCH is on an uptrend above the $850 level. If it pushes above $877, it will pave a way for more gains above $880. After this level, the next significant hurdle buyers will face will be at $890 and $900.

The relative strength index is above 55 and this is a positive sign. The MACD on the hourly chart is in the bullish zone which is also a positive sign. The significant support is at $840 while the significant resistance is at $890. The next few trading sessions will determine if the price action will remain positive or not.


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