Bitcoin Cash Continues Its Upward Trend And Is About To Reach The High At $120 Again

Nov 30, 2022 at 12:42 // Price
Author
Coin Idol
The price of Bitcoin Cash has risen above the moving average lines

Bitcoin Cash price (BCH) rose above the moving average lines, indicating an uptrend.

Bitcoin Cash price long-term analysis: bullish

BCH rallied and crossed the moving average lines on November 22. The bullish momentum rose to a high of $120 before it was stopped. The cryptocurrency is poised to resume its uptrend after retracing above the moving average lines. The uptrend of BCH was stopped at prices of $125 and $135 to the upside. If the initial resistances are overcome, Bitcoin Cash will return to its previous high of $155. If the bullish scenario proves to be wrong, it will fall below the moving average lines. The altcoin will then fall back to its previous low of $100.

 Bitcoin Cash indicator display 

The Relative Strength Index has increased to 54 for the 14 period. The altcoin is in a positive trend zone and still has a lot of room to go up. The moving average lines are above the price bars, indicating a likely upward movement. BCH is in a positive momentum above the daily Stochastic level of 70.

BCHUSD(Daily Chart) - November 30.22.jpg

Technical indicators

Key resistance zones: $160, $180, $200

Key support zones: $120, $100, $80

What is the next direction for BCH /USD?

The price of Bitcoin Cash has risen above the moving average lines, indicating a return of positive momentum. The price bars of BCH are between the moving average lines on the 4-hour chart. The implication is that the cryptocurrency has a few more days to move in a range between the moving average lines.

BCHUSD_(4 Hour Chart) - November 30.22.jpg

Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their own research before investing in funds.

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