Bitcoin Cash (BCH/USD) Sees Massive Bullish Rush
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In today’s market, we can see a sudden explosion of investors’ interest, which has resulted in a very positive outlook on the Bitcoin Cash market. The market had a massive breakout from the $100 price level, smashing through several resistance levels within a very short while, and peaked at $140.
Bitcoin Cash Market Data
- BCH/USD Price Now: $128.8
- BCH/USD Market Cap: $2,529,500,513
- BCH/USD Circulating Supply: 19,425,850 BCH
- BCH/USD Total Supply: 19,425,850
- BCH/USD CoinMarketCap Ranking: #27
Key Levels
- Resistance: $130, $140, and $150
- Support: $100, $90, and $85.
Price Prediction for Bitcoin Cash: The Indicators’ Point of View
The sudden hyperbullish Bitcoin Cash market has also triggered a significant bear market issuing from the $140 price level. Some traders quickly took advantage of the value spike. Although the market pulled back from the $140 price level, it seems like a bullish bias is still being maintained by the market because the market appears to be pegged at $129.
However, the Bollinger Bands indicator shows that with the massive buying in the market, the volatility level rises as well. This means that bears are also formidable in today’s market. But the market continues to trade at $129.
BCH/USD 4-Hour Chart Outlook
While the market touches the threshold of the overbought territory of the Relative Strength Index (RSI) on the daily chart, it is far out in the overbought territory on the 4-hour chart. After hitting the 89.76 level in the Relative Strength Index, it retraces back to level 82.8. It is looking like bulls are seeking a support level around the $130 price level.
