{"id":508,"date":"2024-10-15T06:00:21","date_gmt":"2024-10-15T06:00:21","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/bitcoin-cash-bch-soars-20-can-the-momentum-last\/"},"modified":"2024-10-15T06:00:21","modified_gmt":"2024-10-15T06:00:21","slug":"bitcoin-cash-bch-soars-20-can-the-momentum-last","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/bitcoin-cash-bch-soars-20-can-the-momentum-last\/","title":{"rendered":"Bitcoin Cash (BCH) Soars 20%: Can The Momentum Last?"},"content":{"rendered":"<p><em>Bitcoin Cash price started a major increase above the $350 resistance. BCH is consolidating and might aim for more gains above the $385 resistance.<\/em><\/p>\n<ul>\n<li>Bitcoin cash price started a fresh increase above the $350 level.<\/li>\n<li>The price is trading above $365 and the 100-hour simple moving average.<\/li>\n<li>There is a connecting bullish trend line forming with support at $355 on the hourly chart of the BCH\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start another increase if it clears the $380 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Cash Price Starts Fresh Surge<\/h2>\n<p>After forming a base above the $315 level, Bitcoin Cash price started a fresh increase. BCH outpaced Bitcoin and Ethereum to gain over 20%. There was a clear move above the $350 resistance zone.<\/p>\n<p>The price even surpassed $365 and tested the $385 resistance zone. A high was formed near $385.95 and the price is now correcting gains. There was a minor move below the $375 level. The price dipped and tested the 23.6% Fib retracement level of the upward move from the $318.02 swing low to the $385.95 high.<\/p>\n<p>Bitcoin cash price is now trading above $365 and the 100-hour simple moving average. There is also a connecting bullish trend line forming with support at $355 on the hourly chart of the BCH\/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $318.02 swing low to the $385.95 high.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"wp-image-647981 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Bitcoin-Cash.png?resize=1024%2C478\" alt=\"Bitcoin Cash (BCH) \" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>Immediate resistance on the upside sits near the $380 level. A clear move above the $380 resistance might start a decent increase. The next major resistance is $385, above which the price might accelerate higher toward the $400 level. Any further gains could lead the price toward the $420 resistance zone.<\/p>\n<h2>Fresh Drop in BCH?<\/h2>\n<p>If Bitcoin Cash price fails to clear the $380 resistance, it could start a fresh decline. Initial support on the downside is near the $365 level. The next major support is near the $355 level or the trend line.<\/p>\n<p>If the price fails to stay above the $355 support, the price could test the $340 support. Any further losses could lead the price toward the $332 zone in the near term.<\/p>\n<p>Technical indicators<\/p>\n<p>4-hour MACD \u2013 The MACD for BCH\/USD is losing pace in the bullish zone.<\/p>\n<p>4-hour RSI (Relative Strength Index) \u2013 The RSI is currently above the 50 level.<\/p>\n<p>Key Support Levels \u2013 $365 and $355.<\/p>\n<p>Key Resistance Levels \u2013 $380 and $385.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin Cash price started a major increase above the $350 resistance. BCH is consolidating and might aim for more gains above the $385 resistance. Bitcoin cash price started a fresh increase above the $350 level. The price is trading above $365 and the 100-hour simple moving average. There is a connecting bullish trend line forming&hellip;<\/p>\n","protected":false},"author":1,"featured_media":509,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[520],"tags":[525,526,527,528],"class_list":["post-508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bch","tag-bch","tag-bchusd","tag-bchusdt","tag-bitcoin-cash"],"_links":{"self":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=508"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/508\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/509"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}