Mastering Crypto

09/13 08:01

Bitcoin Cash (BCH) Price Analysis

Bitcoin cash (BCH) rose by as much as 6% on Tuesday, as bulls returned to the market following recent declines in price.

After falling to a low of $181.38 to start the week, BCH/USD raced to a peak of $198.93 earlier in the day.

This rally saw bitcoin cash snap a four-day losing streak, which pushed price close to a support level at $180.00.

Looking at the chart, it appears that this was the trigger bulls needed in order to return to the market.

The 14-day relative strength index (RSI) also bounced at a floor of its own at the 35.00 mark, and is now tracking at 37.58.

Should today’s momentum extend through the rest of the week, there is a good chance that BCH will rise towards a key resistance level of $220.00.

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