Bitcoin Cash technical analysis: Daily BCH/USD chart breaks past resistance at SMA 20 curve

• The price of BCH/USD is consolidating in a flag formation.
• The Elliott Oscillator has had 16 straight bullish sessions.  

BCH/USD daily chart

BCH/USD went up from $223.15 to $227.85 today. The price is currently consolidating in a flag formation. The 20-day Simple Moving Average (SMA 20) has taken a dip and the latest price session was able to break above it. The SMA 50 and SMA 200 curves are trending above the daily price. The Elliott Oscillator has had 16 straight bullish sessions.

BCH/USD four-hour chart

The four-hour BCH/USD chart fell and found support at the SMA 20 curve. The price went up and met resistance at the upper 20-day Bollinger and SMA 50 curves. The Moving Average Convergence/Divergence (MACD) indicator shows us slightly bullish momentum.  

BCH/USD hourly chart

The hourly BCH/USD chart is trending in a downward channel formation and has found support at the red Ichimoku cloud. Immediate intraday resistance lies at the $228-level, which the bulls will need to overcome. The Relative Strength Index (RSI) indicator is trending around 59.375.

Key Levels