Get Ready for a Thrilling BCH Rally: Signs Point to a Fresh Surge!

    The value of Bitcoin Cash has surged by over 15% and has successfully broken through the $275 resistance level. However, it⁣ is now facing strong resistance near the $282 zone.

    • The price of Bitcoin Cash began a new surge above ‌the ‍$250 resistance‍ level.
    • Currently, the price is trading above‌ $265 and the 100 simple moving average⁢ (4 hours).
    • A key bullish trend line is forming with support at $258 on the 4-hour ⁤chart of the BCH/USD pair (data feed⁣ from⁢ Kraken).
    • If the price manages to clear the $282 resistance zone, it could continue to move upwards.

    Bitcoin ‌Cash Price Rallies Above $270

    After establishing a base ‍above ‍the $232 level, the price ⁤of Bitcoin Cash started to steadily increase. It successfully broke through the $245 ‌resistance level, entering a positive zone, ‌similar to Bitcoin and Ethereum.

    The price then experienced a strong surge above the $250⁢ and $265 resistance levels, gaining over‌ 15% and testing the $282 resistance level. The price reached a high of around $283 before starting to correct its gains. It briefly dropped below the $275 level.

    The price then tested the 23.6%‌ Fib retracement level of the upward move from the $233‌ swing low to the $283⁢ high.​ However, Bitcoin Cash is currently showing positive⁢ signs above $260 and the 100 simple moving average (4 hours).

    Bitcoin Cash Price

    Source: BCH/USD on

    There is also a key bullish trend line forming with support at $258 on the 4-hour chart of the BCH/USD ⁤pair. If there is another increase, the price might face ⁣resistance near $275. To continue higher, the price must settle above $282. The next ⁣major resistance is near ​$292, above which the price‍ might accelerate higher toward the $300 level. ‍Any ​further gains could lead the price toward the $320 resistance zone.

    Fresh⁣ Drop in ⁤BCH?

    If the price of Bitcoin Cash fails to clear the $275 resistance level, it could start a fresh decline. The initial support on the downside is near the‍ $265 level.

    The next major support is near the $258 level or the trend line. It is close to the 50% Fib retracement level of the upward ​move from the $233 swing low to the $283 high, ​where the bulls⁤ are likely to appear. If the price fails to stay above the $258 ⁣support, the price could⁢ test the $245 support. Any further losses could lead the price toward the $232 zone in the near term.

    Technical Indicators

    4-hour MACD – The MACD for BCH/USD is⁢ losing momentum in the ⁣bullish zone.

    4-hour RSI ⁢(Relative Strength Index) – The RSI is currently in the overbought zone.

    Key Support Levels – $265 and $258.

    Key Resistance Levels – $275 and $282.

    Disclaimer: ‌This article is‌ for educational purposes only and ⁤does not reflect the‌ opinions of NewsBTC⁣ on whether to buy, sell, or hold any ⁢investments. Investing carries ⁢risks and it is advised to conduct your own research before making any investment decisions. Use the information provided on this website at your own risk.

    The⁣ world of cryptocurrency is no stranger to‍ unpredictability and ‌volatility,​ and this⁤ especially⁤ holds true for Bitcoin Cash ​(BCH). ‌In recent months, we have seen BCH experience some significant ups and downs, leaving investors both excited and cautious. ⁣However, all signs are ⁣pointing towards a fresh ‍surge that could potentially have a‌ thrilling impact ⁣on the ‌market. If you have been considering investing in BCH, now is the ⁤time ‍to get ready for the ⁣rally that is on the horizon. ⁢Here‌ are some ⁤key indicators ⁢to ⁢look out ⁣for and tips‍ to maximize ‌your profits.

    Key Indicators of a‌ BCH Rally:

    1. ‍Rising​ Trading ​Volume:

    One of the⁤ key signs of a potential surge in ⁢BCH is a rise in trading volume. This refers to the number of shares or coins being traded within a specific time period. A high trading volume indicates a growing demand for BCH, which could lead to an ⁤increase in its ‌price. According to data from ⁣CoinMarketCap, the​ 24-hour trading volume for BCH has been consistently increasing in recent weeks, with a ⁤180% jump in just‌ the last month.

    2. Growing Adoption:

    BCH has been‌ gaining traction and popularity among merchants and consumers as⁣ a form of payment. As more and more merchants⁣ accept ⁢BCH, its value‌ could increase as people start using it for everyday transactions. Additionally, the integration of⁣ BCH into major payment platforms like BitPay and Square⁢ has further boosted its adoption and⁤ potential for a⁤ rally. As more businesses and individuals start ​using BCH, its value ‌is likely ⁤to see a significant jump.

    3. Technological ⁣Advancements:

    The development and improvement of⁤ technology ⁤related to BCH is another strong indication ​of a potential rally. The recent⁣ upgrade to the BCH network, known as the Bitcoin Cash‌ Node (BCHN) has brought improvements​ in areas like security, ⁤scalability, and user experience.​ With these advancements, BCH is positioned‌ to compete ‍with other major cryptocurrencies and potentially attract⁣ more ​investors.

    4.‍ Positive Sentiment:

    Another ⁢key factor driving the potential for a BCH rally is‌ the overall sentiment surrounding it. Cryptocurrency markets are heavily influenced by public perception and media coverage.⁣ With influential figures like Tim Draper ‍predicting that BCH will reach a value ​of $20,000 by 2023, there is a positive sentiment building around the coin. As more people start to believe in the potential‌ of BCH, the demand for it will increase, eventually ⁣leading to a rally.

    Practical Tips for⁤ Investing in BCH:

    1. ‌Do Your Research:

    As with any investment, it is crucial to thoroughly research​ and‍ understand what you are ⁣getting into before investing in BCH. Educate yourself on the technology, the team behind‌ the project, and any upcoming updates or‍ developments. This will help you make informed decisions ​and mitigate​ risks.

    2. ⁤Diversify Your Portfolio:

    While BCH may seem like ⁢a⁤ promising investment, it is always wise ‌to diversify your portfolio. This means having a mix of various cryptocurrencies and other assets, such as stocks or precious⁤ metals. Diversification ‌minimizes risk and protects your investments in case of unexpected market fluctuations.

    3. ⁤Consider Dollar-Cost Averaging (DCA):

    Dollar-cost averaging is an investment strategy where you allocate a fixed amount of money to invest at regular intervals, regardless ⁤of ⁢the⁢ asset’s price. This approach ‌can help ​smooth out market fluctuations and potentially lead to better returns.

    4. Use a Secure and ⁢Reputable Exchange:

    When buying ⁤and selling‍ BCH, make sure‌ to use a secure and reputable exchange. ‌This ⁢will help⁢ protect your investments from hacking ⁢and other security threats. ⁣It is also worth considering ⁣a platform​ that ​offers additional features such as stop-loss orders‍ or ‌margin ‍trading to help ​manage risk.

    In Conclusion:

    The signs are clear ⁣-⁣ a BCH‍ rally is on the horizon, making‌ it an ‌exciting ⁢time for investors to get involved in ‌the market. As with any investment, ⁤it is essential to do ⁤your research, ​diversify your portfolio, and use a secure exchange. Keep an eye on⁣ the ‌key indicators mentioned, and use practical tips to maximize ‍your profits. With a ‌little⁤ caution and a‌ solid ‌strategy, you ​could potentially reap the benefits of the upcoming BCH surge. Happy investing!

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