Bitcoin Cash Rallies 7%, More Upsides Likely If BCH Clears 100 SMA

Bitcoin Cash Rallies 7%, More Upsides Likely If BCH Clears 100 SMA


Bitcoin cash price rallied over 6% and it broke the $230 and $235 resistance levels against the US Dollar. BCH is likely to continue higher towards $250 if it clears the 100 SMA (H4).

Bitcoin cash price is gaining momentum above the $235 resistance level against the US Dollar. The price is currently facing hurdles near $240 and the 100 simple moving average (4-hours). There was a break above a key contracting triangle with resistance near $233 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair is likely to accelerate further higher if it clears the 100 SMA and $240. Bitcoin Cash Price Rallies 6%

After forming a support base above the $220 level, bitcoin cash price started a steady recovery. BCH broke the $220 and $230 resistance levels to move into a positive zone, similar to bitcoin above $10,500.

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The price traded above the 23.6% Fib retracement level of the downward move from

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