The BCH, rallied past 6% and seriously broke the $230 and $235 resistance level on the graph against the USD. BCH might likely reach or rally past $250 of at some point it clears the 100 SMA(H4)
1. BCH priceis gradually gaining momentum above the the resistance of $235 against the USD
2. The price is currently facing hurdles towards the $240 and the 100 SMA (4H)
3. THhe priceis like take a bullish movement of it clears the 100 SMA AND $240
BCH price rallies 6%
After forming a strong support at the 220 dollar level, BTC started a continuous recovery. It exceeded the 220 and 230 resistance levels just managed it way into a really positive zone, in correlation with Bitcoin which is at $10500
The price traded above the 23.6% fib retracement level of the bearish move from $297 high to $200 low. The chart also broke a key contracting triangle with with resistance close to the $233 on the 4 hour chart of the Paley BCH/USD
THE pair is now in an upward movement towards $240 and the 100 SMA(4H). IF the BCH passes the 100 SMA, there's a chance of another push towards the $250
Dips supportedin BCH?
The broken triangle near $234 might provide support to the BCH, if it starts a downwards correction. The next important support is near the $230 level, where there's likely to be a bullish attack.
If the price doesn't stay above the $230 support, the price would test the $220 support. Any further losses may end up pushing the price to $200.