- Bitcoin Cash price stuck between a rock and a hard place ($170 – $180) despite the bull attempts to push it to higher levels.
- BTC/USD is in the hands of the bulls but selling activities cap movement under $180.
Spot rate: $178
Relative change: 7.62
Percentage change: 4.55%
Trend: Bullish
Volatility: High
BTC/USD daily chart
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Bitcoin Cash price bulls have established $170 as the key support area following a shallow recovery from the recent dip under $150.
BCH/USD struggles to clear the selling activity at $180 continues. The cryptoassets is stuck in a narrow range between $170 and $180. Movements above $180 are likely to trigger gains towards $200.
The 200-day SMA is expected to hinder bullish movements at $278 while the 50 SMA holds ground at $350. As long as the 50 SMA stays above the 200 SMA in the daily, Bitcoin bulls have a chance to push for a reversal above $200.
BCH/USD 1-hour chart
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The Bollinger Band indicator shows that volatility is moderately high during Asian hours. The BB 1-hour upper curve is the initial resistance. Once out of the way, Bitcoin Cash could trigger more gains above towards $200.
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