Search ForexCrunch
  • Bitcoin Cash price was seen holding chunky gains of over 5.5% on Friday.
  • BCH/USD has been in a relatively steady upwards trend, since the lows on 14th August, supported by an ascending trend line.

 

The Bitcoin Cash price was seen up over 5.5% on Friday, after an initially slow start to the week, which was seen across the crypto market. Buying pressure kicked back into the market following the lows on 14th August.

BCH/USD is currently moving to the north, supported by an ascending trend line, the formation has been taking shape since the 14th August lows, printed at $471.3. Decent buyers were seen here, with the price quickly gaining some 16%.

Technically, upside looks supported as mentioned above, but there are some barriers in the way, to get back above the $600 territory. Supply zones track from $545-555 and then $580-590. Should this current uptrend maintain momentum, the price could see $600 in the coming sessions. Support eyed at $525, the underlying tracking trend line and 50MA and then $520 sees the 100MA on the 60-minute chart view.

 

BCH/USD 60-minute chart