$BCH /USDT Showing Strong Bullish Momentum After Breakout
Hey everyone,
Let's take a look at the $BCH /USDT chart! The current price of Bitcoin Cash is at $378.7, marking a significant increase of +4.47% today.
Looking at the last 24 hours, BCH ranged from a Low of $359.1 to a High of $387.1. The 24h Volume is substantial at 73,343.74 BCH, which is equivalent to 27.45M in USDT, indicating strong trading activity.
The chart shows a clear bullish breakout, with the price surging upwards and currently trading above the upper Bollinger Band. This suggests strong buying pressure and potential for continued upward movement. The price has tested the 24-hour high and is holding near it.
Traders will be watching to see if BCH can sustain this momentum above the upper Bollinger Band. If it does, we might see a push towards higher levels. The middle Bollinger Band could now act as a potential support level. The OBV (On Balance Volume) indicator at the bottom is also showing a strong upward trend, supporting the bullish momentum.
Key points to observe:
Resistance: The 24-hour high of $387.1 is the immediate resistance to watch.
Support: The upper and middle Bollinger Bands could act as potential support levels.
Indicator: The OBV showing an upward trend supports the bullish momentum.
What are your thoughts on Bitcoin Cash's current surge? Do you believe it will continue its upward trajectory, or will we see some consolidation after this strong move? Share your analysis!
