Bitcoin Cash (BCH) Rises Significantly As Crypto Market Starts New Rally 

The price of Bitcoin Cash saw a significant spike breaking the resistances at $540 and even $600. The price broke above a significant bearish trendline that was developed with resistance at $560. The Bitcoin Cash to USD pair traded above $600 and even $620. If the rally continues in favor of the bulls, the coin will trade as high as $650. The price of Bitcoin Cash took a few dips but the support at $650 prevented further decline.

Bitcoin Cash (BCH) Price Analysis For September 2

After the price or BCH moved above $500, there was an upside moved against the USD that caused a rally above the resistances at $540, $600, $580, and $640. The pair traded above the $550 pivot level which was also above the 100 4-hour SMA. As the price went higher, it broke above a significant bearish trendline that had resistance at $560. The Bitcoin Cash to USD trading pair moved as high as $656 and started trading in the bullish territory. A lower correction will be supported at the $620 support. The 23.6% Fibonacci retracement of the rise from $523 to $656 was around $625.

Bitcoin Cash (BCH) Price Today – BCH / USD

Name Price
bitcoin
Bitcoin
$10,128.431.49%
bitcoin-cash
Bitcoin Cash
$308.491.67%

If the price continues to fall, the next support will be at $600. This support coincides with the 50% Fibonacci retracement level of the last rise from $523 to $656.

Bitcoin Cash (BCH) Price Analysis Now

The technical charts show that the price of Bitcoin Cash is solid above $600. While a minor dip is likely to occur, the price will still stay supported above $600. The relative strength index is approaching the overbought level and the MACD on the hourly chart is fully in the bullish territory. The significant support is at $600 and the significant resistance is at $650.

At the time of writing, the price of Bitcoin Cash was $629.44. This indicates a 12.15% rise against the USD and an 8.88% rise against Bitcoin. The total market capitalization is $10,905,891,788 and the trading volume within a 24 hour period is 1,497,022 BTC. The circulating supply of BCH is 17,326,250 and the max supply is 21,000,000 BCH.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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