Bitcoin Cash price rejected at $280 amid the halving but finds support above $260. Various technical levels point towards a consolidation movement ahead of a breakout towards $300. Barely a day after Bitcoin Cash reward halving took place, buyers are already experiencing increased pressure from the sellers. The brief rally at the beginning of the week stalled at $280, leaving $300 untested. Halving ensures that the network is able to achieve the maximum supply, in this case, 21 million BCH coins. Bitcoin Cash has now undergone its first halving after it forked from Bitcoin in 2017. Unlike past halvings for Bitcoin, Bitcoin Cash is yet to experience massive price rallies and volatility. It is clear that the trend is changing and May 2020 halving for Bitcoin could also pass with not much action coming into play. Bitcoin Cash Price analysis At the time of writing, Bitcoin Cash is trading at $265. Movements upwards are limited by the 50-day SMA and the 200-day SMA. In addition to that, the RSI leveling motion signals that Bitcoin Cash could commence consolidation between $260 and $270. The MACD bullish divergence emphasizes that buyers have an upper hand. In case technical levels remain the same, Bitcoin Cash consolidation could eventually culminate in a breakout towards $300. BTC/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 GBP/USD: Failing to sustain above the 1.2400 mark FX Street 2 years Bitcoin Cash price rejected at $280 amid the halving but finds support above $260. Various technical levels point towards a consolidation movement ahead of a breakout towards $300. Barely a day after Bitcoin Cash reward halving took place, buyers are already experiencing increased pressure from the sellers. The brief rally at the beginning of the week stalled at $280, leaving $300 untested. Halving ensures that the network is able to achieve the maximum supply, in this case, 21 million BCH coins. Bitcoin Cash has now undergone its first halving after it forked from Bitcoin in 2017. Unlike past halvings for… 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.
