Bitcoin Cash price surged over $475 barrier. BCH is stabilizing and may rise over $500 barrier.
Bitcoin cash price began rising beyond $480.
The price is above $480 and the 100-hour SMA.
BCH/USD broke above a negative trend line with resistance at $472 on the hourly chart.
The pair might rise again if it breaks $500 barrier.
Bitcoin Cash Price Rises
Bitcoin Cash price rose after building a base over $440. BCH gained over 8%, outperforming Bitcoin and Ethereum. Clear break over $470 resistance zone.
Price broke $480 and challenged $495 resistance. In addition, the hourly BCH/USD chart broke over a negative trend line with resistance at $472. After forming a high at $505, the price is consolidating gains above the 23.6% Fib retracement line of the upward run from $455 swing low to $502 high.
Bitcoin cash price is above $485 and the 100-hour SMA. Resistance on the upswing is approaching $500. A break over $500 barrier might spark a strong rise. The price may surge toward $520 after breaking $505 barrier. Additional advances might push the stock near $535 barrier.
Does BCH Support Dips?
Bitcoin Cash may drop if it fails to break $500 barrier. The downside has first support at $490. The next key support is $480, the 50% Fib retracement level of the upward advance from the $455 swing low to the $502 high.
If the price falls below $480, it may challenge $470. Continued losses might push the price toward $450.
Tech indicators
4-hour MACD – BCH/USD MACD is falling in the positive zone.
4-hour RSI – The RSI is above 60.
Key Support Levels: $490, $480.
$500 and $505 are key resistance levels.
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