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

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.

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.

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.