Bitcoin Breaks Resistance, Rally Momentum Strengthens
- Bitcoin Surge: Bitcoin's price has broken above the $78,333 resistance level, indicating a return of bullish sentiment, with analysts predicting a potential rally to $84,000 if it remains above this level, reflecting a significant improvement in market sentiment.
- Positive Market Signals: CryptoQuant analysts noted that Bitcoin's adjusted Net Unrealized Profit/Loss (NUPL) has turned positive, indicating an improvement in investor profitability and suggesting that the downtrend for Bitcoin has ended, marking the beginning of a real rally cycle.
- Ethereum's Upward Trend: Ethereum's price rebounded from the 20-day EMA at $2,273, and if it clears the $2,465 resistance, it may surge towards $2,800, indicating a strengthening buying sentiment in the market.
- XRP and BNB Recovery: XRP's price has bounced from the moving averages, and if it breaks above the downtrend line, it could rise to $2; meanwhile, BNB is sustaining above $649, with potential to reach $687 if it breaks this resistance, showcasing strong buying interest in major cryptocurrencies.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for BCH
Technical Sentiment Analysis for Bitcoin Cash (BCH). As of , Bitcoin Cash (BCH) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BCH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BCH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin Cash (BCH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 380.407 | 403.953 | 426.907 | 450.453 | 473.407 | 496.953 | 519.907 |
| Fibonacci | 403.953 | 421.716 | 432.69 | 450.453 | 468.216 | 479.19 | 496.953 |
About BCH
About the author
