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Key Points Bitcoin cash price declined after it failed to break the $445-450 resistance against the US Dollar. There is a connecting bearish trend line in place with resistance at $442 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair must stay above the $430-435 area to avoid a downside break towards $400. Bitcoin cash price is under pressure below $445 against the US Dollar. BCH/USD may continue to face sellers near the $440-450 resistance zone. Bitcoin Cash Price Analysis During the past few days, there were multiple rejections near the $440 and $450 levels in bitcoin cash price against the US Dollar. The BCH/USD pair failed to gain momentum above $450 and remained in a bearish zone. The recent swing high was $445 and the price dipped below the $440 level. The price is currently trading well below the $440 level and the 100 hourly simple moving average. It tested the $434 support area, which is acting as a strong buy zone. The price may bounce bac...

Key Points Bitcoin cash price traded lower recently and tested the $440 support against the US Dollar. There was a break above a short-term declining channel with resistance at $441 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is struggling to gain momentum above the $450 and $455 resistance levels. Bitcoin cash price is currently holding the $440 support against the US Dollar. BCH/USD needs to clear the $450 level and the 100 hourly SMA to gain traction. Bitcoin Cash Price Analysis There was no upside break above the $460 resistance in bitcoin cash price against the US Dollar. The BCH/USD pair started a downside move and traded below the $450 support. There was also a close below the $450 level and the 100 hourly simple moving average. However, buyers successfully defended losses below the $440 support. The price formed a low at $438 and is currently consolidating. It has moved back above the $440 level with a few positive signs. Moreover, ther...

Key Points Bitcoin cash price gained traction and moved above the $500 barrier against the US Dollar. There is a key contracting triangle in place with support near $510 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair is likely to break higher towards the $575 and $600 levels in the near term. Bitcoin cash price is trading in a bullish zone above $500 against the US Dollar. BCH/USD may continue to find buyers on the downside near $500 and $480. Bitcoin Cash Price Decline This past week, there was a solid rally in bitcoin cash price from the $400 support zone against the US Dollar. The BCH/USD pair surged above the $450 and $500 resistance levels to move into a positive zone. There was even a close above the $475 level and the 100 simple moving average (4-hours). The price traded as high as $592 and later started a downside correction. It corrected below the 23.3% Fib retracement level of the last wave from the $424 low to $592 high. However, the d...

The cryptocurrency market attain a nine-month low since November 2017, as a huge sell-off is triggered in Bitcoin and altcoins. The Digital Currency market has made a new low for 2018 today as the overall market valuations have dropped below $200 billion. The market is reeling under a heavy selling pressure as over $25 billion have been wiped off the market in the last 24-hours. Bitcoin has lost nearly 7% in the last 24-hours as the world’s largest digital currency dipped below $6000 mark, momentarily, before finally recovering back. As per the global charts on CoinMarketCap, the cryptocurrency market has dipped to a low of $189 billion which is the lowest in the last nine months since November 2017. However, today’s price fall in Bitcoin is relatively low in comparison to other altcoins which have been the major reason for the huge slump in the market valuations. Data on the CoinMarketCap shows that except the Bitcoin, almost all the other top-twenty cryptocurrencies have ...