- Bitcoin Cash (BCH) manifests a volatile intraday price chart amid positive signs
- BCH has recently reclaimed price range above $290; bulls appear round the corner
- The coin seems to have a support level near $285, and price barriers appear above $293
Bitcoin Cash has recently started to rebound after it tested the support near $286 against U.S.Dollar. The coin has traced an impulse pattern over the last one day, hitting highs above $293 and lows near $285.
Yesterday morning price actions of BCH coin were giving mixed signals till it saw a notable price rise at 11:45 UTC. The coin went as high as $294.18 before tracing a bearish trendline. After two lower highs, the coin dipped to $285.36, seeking support. Post a price rebound, BCH maintained its range above $287 till 7:00 UTC today, when it broke below $287 and then recovered its price with a sharp spike at $292.31.
BCH to USD Price Chart
Three of the technical indicators give bullish signs as the Bitcoin Cash price is heading up. RSI is about to tap into the over-bought phase, while MACD is also heading towards a bullish zone with its MACD line above the signal line.
The Short term SMA line is pretty much above the long-term SMA line indicating a surge in Bitcoin Cash value. BCH is trading with a ‘Buy’ sentiment. The coin may face resistance at $294.94, $298.03, and $302.08 while its support levels can be at $287.8, $283.75, and $280.66.