$BCH "Ready to Rally? BCH Traders Eye Key Resistance Levels for a Breakout"
Bitcoin Cash is trading around $352.3, showing a slight 1.6% decrease in recent hours. The price has fluctuated between $345 and $352 over the past few days. The 7-period SMA is at $357.1, just above the current price, while the 25-period SMA sits at $351.7, creating a short-term resistance zone. Further resistance could be seen with the 99-period SMA at $359.3, which might be pivotal for a breakout
BCH is maintaining its position above the crucial support level of $345, which has held firm in recent days with buyers defending it. A break below this support could send BCH toward the next key level at $340, potentially attracting buyers looking for a dip.
On the upside, immediate resistance sits at $359.9. A breakout above this level could push BCH towards $365, where buying pressure might increase. A sustained move past $360 could open the door for BCH to target the $380 range
The MACD indicator suggests mixed signals. The MACD line has crossed slightly above the signal line, hinting at minor bullish momentum with a 0.1 reading. However, the histogram hasnât yet shown strong confirmation, so traders should stay cautious. While momentum seems to be building, a full bullish trend hasnât yet emerged.
