ICOcreed logo ICOcreed logo
ICOcreed logo
NewsBTC 2022-08-23 11:34:29

Bitcoin Cash BCH Sparks Light Of Hope, Can It Rally To $200 Resistance?

The price of Bitcoin Cash (BCH) has sparked a glimpse of hope against Tether (USDT) as it attempts to flip key resistance with eyes set on $200. The price of Bitcoin Cash in recent weeks has been more gloomy as many altcoins rallied and produced gains of double digits while BCH continues to range. (Data from Binance) Related Reading: TA: Ethereum Could Recover To $1,800 If It Clears This Key Resistance Bitcoin Cash (BCH) Price Analysis On The Weekly Chart From the chart, the price of BCH saw a weekly low of $112, which bounced from that area and rallied to a price of $130 after showing great recovery signs in recent weeks. BCH’s weekly candle closed with bearish sentiment, with the new week’s candle looking bullish, showing signs of strength after rejection from $135. The price has struggled to gain traction as it attempts to hold key support. If the price of BCH on the weekly chart maintains this structure, it could quickly return to $135 and form support above this range. To avoid falling below, the price of BCH must break and hold this support zone. Weekly resistance for the price of BCH – $135. Weekly support for the price of BCH – $112. Price Of BCH On The Daily (1D) Chart With more buy orders, the price of BCH could break to the upside after forming a range in a wedge. A breakout and retest for BCH would mean more uptrend. To confirm the bullish sentiment of BCH, the price needs to break and form suppor...

Disclaimer : All crypto price forecasts provided on our website are only for general information. The content should not considered as financial advice, legal advice or any other form of advice meant for your investment. Conduct your own research before investing in any cryptocurrency. Trading is a highly risky business, please consult with your financial advisor before making any decision.