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  • 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

BCH/USD price chart

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

BCH/USD price chart

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.