Bitcoin Cash nurtures a weak bullish momentum in a bid to rise above $250 and $260 hurdles. The 38.2% Fibo at $240 comes out as a credible support area. Bitcoin Cash recently tested $230 during the slump that shuttered various tentative support areas including $280, $260 and $240. Ranging channel support ($270) was also broken. Following the drop, an effort has been made to recover the slashed gains. However, the upside is strongly limited at $250. The price is hovering above the 38.2% Fib retracement level from the previous high at $308.92 to a low of $197.14. The Relative Strength Index is dragging out of the oversold as weak bullish momentum battles the short-term resistance at $245. As long as the RSI keeps trending upwards, BCH has the potential to rise above the resistance at $260, $280 and $300 in the coming days. A glance at the MACD suggests that the sellers are gaining traction gradually. A visible but minor bullish cross means that the bulls have the upper hand and can continue stirring up action to the upside. Apart from the support at $the 38.2% Fibo, BCH is likely to find refuge at $230, $220 and $200. BCH/USD 4-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/JPY bounces from 200-day MA after Chinese Vice Premier Liu He’s remark on trade FX Street 3 years Bitcoin Cash nurtures a weak bullish momentum in a bid to rise above $250 and $260 hurdles. The 38.2% Fibo at $240 comes out as a credible support area. Bitcoin Cash recently tested $230 during the slump that shuttered various tentative support areas including $280, $260 and $240. Ranging channel support ($270) was also broken. Following the drop, an effort has been made to recover the slashed gains. However, the upside is strongly limited at $250. The price is hovering above the 38.2% Fib retracement level from the previous high at $308.92 to a low of $197.14. The Relative Strength… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
