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Bitcoin Cash Price (BCH) Is Surging and Looks Set To Surpass $450

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Bitcoin Cash Price (BCH) Is Surging and Looks Set To Surpass $450
By Aayush J- February 6, 2020
Bitcoin Cash Price
Recently, there was a strong upward move in bitcoin cash price above $400.00. BCH to USD is showing positive signs and it could continue to rise above the $450.00 and $460.00 levels.

Key Takeaways: BCH/USD
Bitcoin cash price is trading in a solid uptrend above $400.00 and $420.00 against the US Dollar.
BCH/USD is trading insider a breakout triangle with resistance near $444.50 on the 2-hours chart (data feed from Bitstamp).
Bitcoin is also rising and it recently surpassed the $9,800 level.
Bitcoin Cash Price Analysis
This week, bitcoin cash price remained in an uptrend and surpassed the $375.00 and $380.00 barrier. It opened the doors for more gains and BCH to USD climbed above the $400.00 barrier.

Bitcoin Cash Price 


 
Looking at the 2-hours chart, bitcoin cash even settled nicely above the $400.00 level and 50 simple moving average (2-hours, purple). Finally, it broke the $420.00 resistance area and traded to a new 2020 high at $447.84.

It is currently consolidating gains below the $448.00 and $450.00 resistance levels. More importantly, the price is trading insider a breakout triangle with resistance near $444.50 on the 2-hours chart.

On the upside, a clear break above the $445.00 and $450.00 levels could open the doors for a larger upward move in the coming sessions. The next major resistance is near the $460.00 level, above which the price may perhaps rise towards the $475.00 level.

On the downside, an initial support is near the $435.00 area. Besides, the 23.6% Fib retracement level of the recent rise from $372.32 to $447.84 is sitting near the $430.02 level.

The next major support is near the $410.00 level since it is close to the 50% Fib retracement level of the recent rise from $372.32 to $447.84. Any further losses might start a fresh decrease and downtrend in bitcoin cash below the $400.00 level.

Overall, BCH price is trading in a strong uptrend and it is likely to surge above the $450.00 and $460.00 levels in the coming sessions. The bulls may even target the $500.00 level.

Live Bitcoin Cash (BCH) Price:
1 BCH/USD =$444.08 change ~ 3.35%
Coin Market Cap

$8.07 Billion
24 Hour Volume

$696.76 Million
24 Hour VWAP

$435
24 Hour Change

$ 14.4100
Index
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$
441.43
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200
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Volume
$
41,776,495.42
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0
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Aayush J
Aayush is a Senior Cryptocurrency Strategist and Forex Expert who has a decorated history of over a decade in FinTech Markets and IT industries. As a financial markets contributor and observer, his primary focus is on specializing and sharpening his skillset inside the Technical Analysis arena and is well known for his informative and entertaining analytical skills inside the Bitcoin, Etheruem and crypto asset markets.

 
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