Bitcoin Cash Analysis: Fresh Increase Likely Above $150

Bitcoin cash price is climbing above $140 against the US Dollar, similar to bitcoin. BCH/USD could start a fresh surge if it clears the $146 level.

Bitcoin Cash Price Analysis

Bitcoin cash price formed a decent support base above the $130 level. BCH started a fresh increase and was able to clear the $135 resistance zone.

The price climbed above the $132 and $145 resistance levels. It even broke the $140 level and the 55 simple moving average (4-hours). The price surpassed the 23.6% Fib retracement level of the downward move from the $165 swing high to $129 low.

However, the price seems to be facing hurdles near the $145 and $146 levels. It is also struggling near the 50% Fib retracement level of the downward move from the $165 swing high to $129 low.

Besides, it is now trading above the $140 zone and the 55 simple moving average (4-hours). An immediate resistance is near the $145 level. The first major resistance is near the $146 level. The main resistance sits near the $150 level.

Any more gains above $146 and $150 could set the pace for a move towards the $165 level. If there is a move above the $165 resistance, the price could rise towards the $180 zone.

An immediate support on the downside is near the $140 zone. The next major support is near the $135 level, below which the bears might aim $130. The next target for them may perhaps be near the $120 level.

Bitcoin Cash Price

Looking at the chart, bitcoin cash price is now trading above the $140 zone and the 55 simple moving average (4-hours). Overall, the price must clear $146 and $150 to continue higher in the near term.

Technical indicators

4 hours MACD – The MACD for BCH/USD is losing pace in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for BCH/USD is above the 50 level.

Key Support Levels – $135 and $130.

Key Resistance Levels – $146 and $150.

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