Bitcoin Cash stays above the 100 SMA support; all eyes are on the key $300 hurdle. Technical levels suggest that the current indecision is likely to last longer than expected. Bitcoin Cash turned around after finding a bottom at $200 in October. This allowed for the price to rise to levels above $300 in the last week of October. However, the trading in November has kept the Bitcoin Cash mostly below $300. Trading activity above $300 has been greatly hampered by the increasing selling pressure. As discussed in an earlier published analysis, the failure to break above $290 puts the recent support at $270 within the bears’ spectrum. However, BCH buyers are showing resilience in their fight to $300. A step above $290 will pave the way for the much-anticipated correction to $300. The immediate downside is supported by the 100-day SMA currently holding position at $278.64. Extended declines below the recent support at $270 is likely to take refuge with the 50-day SMA at $246.88. Technical indicators like the RSI and the MACD are in sideways motions, which shows the current cloud of indecision over BCH. The RSI is horizontal at 60 while the MACD is in the positive region and holding the ground at +14.65. A bullish cross will signal a possible uptrend above $290 but a bearish cross towards the mean line could see BCH retest $270. It is essential that Bitcoin returns above $300 if the bulls want to stir up action above the supply zones at $350 and $500 respectively before the year ends. BCH/USD daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next German ZEW sentiment data beats expectations to print at -2.1 vs expected -13.2 FX Street 3 years Bitcoin Cash stays above the 100 SMA support; all eyes are on the key $300 hurdle. Technical levels suggest that the current indecision is likely to last longer than expected. Bitcoin Cash turned around after finding a bottom at $200 in October. This allowed for the price to rise to levels above $300 in the last week of October. However, the trading in November has kept the Bitcoin Cash mostly below $300. Trading activity above $300 has been greatly hampered by the increasing selling pressure. As discussed in an earlier published analysis, the failure to break above $290 puts the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
