- The motionless trading at the moment is dancing with $130.33 while supported by the 50 SMA.
- BCH/USD is likely to remain pivotal at $130.
Bitcoin Cash is currently motionless at $130. The recovery from the recent drop that tested the support at $120 failed to gain ground above the resistance at $132. Before the declines on Monday this week, BCH/USD had been stable in a range between $125 and $135.
The motionless trading at the moment is dancing with $130.33 while supported immediately by the 50 SMA 1-hour chart. For a correction towards the now psychological $135, Bitcoin Cash buyers must battle to clear the range resistance.
According to the technical indicators applied to the chart, BCH/USD is likely to remain pivotal at $130. Sideways trading is expected to prevail as bullish pressure continues to cancel out the bearish pressure. However, The Relative Strength Index 1-hour chart is slopping slightly below 50 to show that bears are steadily gaining traction. We expect Bitcoin Cash to find support at the 100-SMA. The range support at $125 and the recent support at $125 in case of extended declines.
BCH/USD 1-hour chart
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