{"id":13840,"date":"2024-10-15T05:28:05","date_gmt":"2024-10-15T05:28:05","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=13840"},"modified":"2024-10-15T05:28:05","modified_gmt":"2024-10-15T05:28:05","slug":"bitcoin-cash-bch-soars-20-can-the-momentum-last","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=13840","title":{"rendered":"Bitcoin Cash (BCH) Soars 20%: Can The Momentum Last?"},"content":{"rendered":"

Bitcoin Cash price started a major increase above the $350 resistance. BCH is consolidating and might aim for more gains above the $385 resistance.<\/em><\/p>\n

Bitcoin cash price started a fresh increase above the $350 level.
\nThe price is trading above $365 and the 100-hour simple moving average.
\nThere is a connecting bullish trend line forming with support at $355 on the hourly chart of the BCH\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it clears the $380 resistance zone.<\/p>\n

Bitcoin Cash Price Starts Fresh Surge<\/h2>\n

After forming a base above the $315 level, Bitcoin Cash price started a fresh increase. BCH outpaced Bitcoin<\/a> and Ethereum<\/a> to gain over 20%. There was a clear move above the $350 resistance zone.<\/p>\n

The price even surpassed $365 and tested the $385 resistance zone. A high was formed near $385.95 and the price is now correcting gains. There was a minor move below the $375 level. The price dipped and tested the 23.6% Fib retracement level of the upward move from the $318.02 swing low to the $385.95 high.<\/p>\n

Bitcoin cash price is now trading above $365 and the 100-hour simple moving average. There is also a connecting bullish trend line forming with support at $355 on the hourly chart of the BCH\/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $318.02 swing low to the $385.95 high.<\/p>\n

<\/a><\/p>\n

Immediate resistance on the upside sits near the $380 level. A clear move above the $380 resistance might start a decent increase. The next major resistance is $385, above which the price might accelerate higher toward the $400 level. Any further gains could lead the price toward the $420 resistance zone.<\/p>\n

Fresh Drop in BCH?<\/h2>\n

If Bitcoin Cash price fails to clear the $380 resistance, it could start a fresh decline. Initial support on the downside is near the $365 level. The next major support is near the $355 level or the trend line.<\/p>\n

If the price fails to stay above the $355 support, the price could test the $340 support. Any further losses could lead the price toward the $332 zone in the near term.<\/p>\n

Technical indicators<\/p>\n

4-hour MACD \u2013 The MACD for BCH\/USD is losing pace in the bullish zone.<\/p>\n

4-hour RSI (Relative Strength Index) \u2013 The RSI is currently above the 50 level.<\/p>\n

Key Support Levels \u2013 $365 and $355.<\/p>\n

Key Resistance Levels \u2013 $380 and $385.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Cash price started a major increase above the $350 resistance. BCH is consolidating and might aim for more gains above the $385 resistance. Bitcoin cash price started a fresh increase above the $350 level. The price is trading above $365 and the 100-hour simple moving average. There is a connecting bullish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":13841,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-13840","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/13840"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13840"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/13840\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/13841"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}