Bitcoin Cash Technical Analysis: BCH/USD moving within a short-term descending channel, breakout imminent, should demand zone $820-830 continue to support the price

  • Bitcoin Cash price seen down on Monday by 0.70%, as crypto prices across the board remain stagnant.
  • Descending channel pattern can be seen on the 30-minute chart view.
  • Supporting demand zone seen tracking from $820-830 for BCH/USD.

 

BCH/USD 30-minute chart

Spot rate:                    840.80

Relative change:         – 0.70%

High:                           847.50

Low:                            820.10

 

Trend:                         Bearish

 

 

Support 1:                   827.10, 16th May low.

Support 2:                   820.00, demand area & lower part of channel.

Support 3:                   801.00, 13th June low.

Resistance 1:              843.00, upper part of descending channel.

Resistance 2:              846.00,100MA.

Resistance 3:              861.60, (resistance on 30-minute chart).

 

 

 

 

 

 


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