The Bitcoin Cash to USD trading pair was able to find support near $865 and gained ground against the USD. There was a short-term bullish trendline yesterday that has support at $880. The bitcoin Cash to USD trading pair was able to move higher and if it keeps moving up, it will break the $880 support level soon. After moving above this level, the Bitcoin Cash to USD pair may go further to the $908 resistance level. The Bitcoin Cash to USD trading pair was able to find support above the $850 level and recovered well. All charts indicate that the uptrend has resumed and more gains will be made soon.
Bitcoin Cash to USD Price Analysis
According to Aayush Jindal from BTC News, the Bitcoin Cash to USD trading pair will make way for a lot of gains if it is able to break the $900-910 resistance level. The price corrected below the $880 level and found support around this same level. Bitcoin Cash was able to test the $865 level before the buyers gained momentum and challenged the trend. The buyers were able to prevent the price from falling below the $865 level. Also, the 61.8% Fibo level of the last $825 to $925 wave served as support to prevent further losses. This marked the beginning of a new uptrend which will make a way for more gains.
The price was able to break the 50% Fibo level of the last wave from $926 to $865 when the uptrend started. From the current price action, gains near $900 are achievable short-term. Buyers will face hurdles around the $908 and $910 levels. There is a strong support above $880 and the uptrend looks good.
The technical analysis show that the relative strength index is above 50 and the MACD is in the bullish territory. The significant support level is $880 and the significant resistance level is $910. The next few trading sessions will determine if the price can move to the $900 level.
Posted from my blog with SteemPress : https://smartereum.com/20237/bitcoin-cash-price-analysis-the-bitcoin-cash-bch-to-usd-trading-pair-is-on-an-uptrend/