- BCH/USD went up from $404 to $443.50.
- Bulls are aiming for $500.
After trending between $375 and $400 in the closing hours of Wednesday, the bulls took over the market and surged the price up to $443.50 from $404 within two hours. This is the highest that BCH/USD has been priced at since November 2018. The bulls are aiming to breach the $500-level.
BCH/USD Daily Chart
- The price is currently trending upwards in a channel formation.
- The Ichimoku indicator hints at an upcoming bearish correction.
- The market is trending above the SMA 200, SMA 50, and SMA 20 curves.
- On the upside, the nearest resistance level lies at $470.
- The signal line is diverging away from the MACD line, showing increasing bullish momentum.
- The Elliot wave oscillator shows six consecutive bullish sessions of increasing intensity.
- The relative strength index (RSI) indicator is in the overbought zone and is currently trending at 85.70.