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  • Bitcoin Cash price is stable but lacks the momentum and catalyst to tackle the resistance at $190.
  • All the technical indicators point towards a domineering sideways trading action in the coming sessions.

Bitcoin Cash is showing signs of recovery on Wednesday during the Asian session. The same signals can be said of all the top five cryptocurrencies. However, stability is the focal point of the trading session.

Looking back at the recent dip to $135, recovery has been steady but acutely limited under $190. Moreover, there was a setback on March 16 when BCH/USD dived under $150. A new support was established at $148, allowing the price to rebound. The resistance zone at $190 has been tested on several occasions, making the area a critical one.

At the time of writing, BCH/USD is trading at $185. The immediate downside is protected by an accelerated trendline (dotted). Another support has been established at $180. Besides, the range support at $160 is key to the BCH. Other vital areas to watch include the main trendline (continuous line), $148 and $135.

Technically, sideways trading action could dominate the current session and the European session. The stability is reflected by the movements of the RSI and the MACD. Despite the stability, buyers are relatively in charge as the RSI is pointing upwards above 50 and the MACD is comfortably sitting within the positive territory.

BCH/USD hourly chart
BCH/USD price chart