Bitcoin Cash Price Watch | Resistance Level Holding Steady

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February 9, 2018 – Bitcoin Cash price watch.

Key Highlights:

  • Bitcoin Cash (BCH) maintained steady at around $1,300
  • A major resistance level is held at $1,310
  • BCH traded between a range of $1,186.50 to $1,340 on Friday

Bitcoin Cash Holds Steady

Yesterday, Bitcoin Cash broke through the $1,300 mark and continued on an uptrend heading into today’s session. BCH touched a high of $1,340 and low of $1,186.50 earlier before settling back at around $1,290 at the time of writing. This means investors can expect BCH to be trading around the $1,300 level for a while, especially as volatility tends to drop down during the later hours.

 

Source: Tradingview

A bullish trend line was formed earlier to take BCH above a support level of $1,287. Now, another bullish trend has formed to test a resistance of $1,310. There is also a weak bullish signal emanating from the MACD chart.

Looking at the Technical Indicators:

  • MACD — a weak bullish signal as both lines are poised for a downturn back toward zero
  • Major Support Level — $1,287
  • Major Resistance Level — $1,310

Featured Image: twitter

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In addition to writing financial content and analysis, Jackson has worked as a business journalist at Stockwatch and research analyst at various organizations. He obtained his MA Economics from Concordia University in Montreal and BA Economics from the University of British Columbia, with special emphasis on environmental and industrial economics.

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