您现在的位置是:BCH/USD Price Faces Major Hurdle To Reach $260 >>正文
BCH/USD Price Faces Major Hurdle To Reach $260
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛95355人已围观
简介Bitcoin Cash bulls need to break above the 200 SMA to remain in controlBitcoin Cash price over the p...
Bitcoin Cash bulls need to break above the 200 SMA to remain in control
Bitcoin Cash price over the past couple of weeks has failed to breach a key resistance line, with multiple rejections at around $245 curtailing bulls’ plans for a retest of prices near $300.
The cryptocurrency, which forked from Bitcoin in 2017, has had a few great days, breaking above a descending channel to hit new highs in October. However, the downturn to lows of $207 on September 23 and subsequent flip above $240 has been stalled as noted above.
On October 10, the price of the peer-to-peer electronic cash coin rose to highs of $246.6. Yet, a series of attempts to break higher failed to hold as bears ensured the cryptocurrency’s price touched a low of $233 on Monday, October 12.
At the moment, the BCH/USD pair is changing hands around $242, the upward momentum once again stalling around the 200-day simple moving average.
BCH/USD technical picture
For the moment, there has been stagnation within a range — the 50 SMA ($234) and 200 SMA ($245.4) — which is limiting movement on either side of the curve.
As can be seen in the daily chart above, BCH/USD has had three successive green candles. However, because the movement is capped by the 200 SMA, bulls need to hold gains above the level and then break above the 100 SMA to keep bears at bay.
If that happens, sustained upside pressure will help bulls breach the important $290 resistance area. The bullish outlook on the time frame is helped by the RSI and MACD, which suggest buyers still have the upper hand if prices remain firm above the 50 SMA.
The area is important as it keeps bulls within reach of the 200 SMA where data from IntoTheBlockshows holders purchased around 660,000 coins. The considerable wall provided by the 78,000 addresses is the only strong barrier before $270 and then $290.
On the flipside, sellers holding their ground around the 200-day SMA risks weakening bulls further. At this level, a lack of upside push from the market would mean an aggressive defense of the aforementioned 50 SMA.
If sellers establish a footing and push lower, BCH/USD will likely drop below $230, with $229-$223 providing the next major support zone. Here, bears will need to breach a huge wall where nearly 134,440 addresses acquired over 1.69 million coins.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/9535.html
相关文章
An artificial way to clot blood faster in case of serious injuries
BCH/USD Price Faces Major Hurdle To Reach $260By subscribing, you agree to our Terms of Use and Policies You may unsubscribe at any time.Blood clo...
阅读更多
XLM reentered the top 10 by market cap after 30% gain
BCH/USD Price Faces Major Hurdle To Reach $260Stellar Lumens’ (XLM) managed to outperform the market by a large margin and reenter the top 1...
阅读更多
Ripple to defend itself against SEC’s lawsuit
BCH/USD Price Faces Major Hurdle To Reach $260Ripple has vowed to defend itself against the lawsuits filed by the United States Securities and Exc...
阅读更多
热门文章
- BMW and Figure to bring humanoid robots to car manufacturing
- Will Binance Coin reclaim its short
- A glittering robot baby ‘walks’ the ramp at a fashion show
- El Salvador makes Bitcoin legal tender
- Dutch firm unleashes Evolution Eagle, a covert military spy drone
- Bitcoin reaches $24k as 2020 rally continues