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    Bitcoin Cash price analysis: $195.00 trendline support

    By Nathan Batchelor

    13:45, 18 March 2020

    Bitcoin Cash price analysis

    Bitcoin Cash has staged a strong rebound alongside a number of top altcoins earlier this week after finding support from just above the $130.00 level.

    Bitcoin Cash price analysis shows that the cryptocurrency is vulnerable to further losses while trading below trendline resistance, around the $195.00 level. 

    Bitcoin Cash medium-term price trend

    Bitcoin Cash has been steadily rising over recent days after bouncing from the $145.00 level earlier this week.

    The BCH/USD pair has now created a bullish double-bottom pattern formation, which is also helping to improve near-term sentiment.

    Bitcoin Cash technical analysis shows that the $195.00 level is a major trendline resistance of the daily time frame and a key area to watch this week.

    Gains above the mentioned trendline could see the BCH/USD pair advancing towards the $215.00 and possibly the $220.00 level.

    Failure to move above the trendline could result in a retest of the $145.00 and possibly the $130.00 level.

    Gold

    2,685.10 Price
    +1.310% 1D Chg, %
    Long position overnight fee -0.0174%
    Short position overnight fee 0.0092%
    Overnight fee time 22:00 (UTC)
    Spread 0.30

    US100

    20,739.20 Price
    +0.460% 1D Chg, %
    Long position overnight fee -0.0241%
    Short position overnight fee 0.0019%
    Overnight fee time 22:00 (UTC)
    Spread 1.8

    BTC/USD

    99,212.50 Price
    +4.980% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 106.00

    XRP/USD

    1.41 Price
    +26.550% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 0.01168

    It is noteworthy that long-term technical support for the BCH/USD pair below the $100.00 level is found at the $80.00 to $75.00 levels.

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    Bitcoin Cash short-term price trend

    Bitcoin Cash technical analysis shows that the cryptocurrency is bearish over the short-term while price trades below the $212.00 level.

    The one-hour time frame currently shows that a fairly large ascending triangle pattern has formed during the recent recovery.

    The size of the pattern indicates that a bullish breakout above the $198.00 resistance level could see the BCH/USD pair rallying towards the $260.00 area.

    To the downside, a break below the $155.00 level could see the BCH/USD pair testing towards the $100.00 support level. 

    Bitcoin Cash technical summary

    Bitcoin Cash technical analysis indicates that the cryptocurrency could stage a major rally if price starts to rally above the $195.00 to $198.00 resistance level. Rejection from this area could see a strong decline towards the $100.00 level.

    Markets in this article

    BCH/USD
    Bitcoin Cash / USD
    497.45 USD
    55.35 +12.530%

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