Bitcoin Cash price analysis: $330.00 level offers major trendline resistance

Bitcoin Cash price analysis shows that buyers may launch a technical test of key trendline resistance. The $330.00 level is seen as a possible target.

0'>Bitcoin Cash has staged a major upside rally as the Bitcoin fork follows the number one cryptocurrency and other top cryptocurrencies higher.

Bitcoin Cash price analysis shows that buyers may soon test towards major trendline resistance on the daily time frame, around the $330.00 level.

Bitcoin Cash medium-term price trend

0'>Bitcoin Cash is enjoying huge gains, as the fifth-largest cryptocurrency continues its recent reversal from the $203.00 level.

Bitcoin Cash technical analysis shows that bulls may test towards major trendline resistance on the daily time frame, around the $330.00 level.

The trendline in question is taken from the December 2018 low to the May 2019 swing-low, and is found around the $330.00 level.

The daily time frame shows that the $360.00 and $425.00 offer the strongest form of resistance above the $330.00 level.

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Bitcoin Cash short-term price trend

Bitcoin Cash technical analysis shows that the cryptocurrency is bullish over the short term while price trades above the $230.00 level.

The four-hour time frame currently shows that a large head-and-shoulders pattern is close to being invalidated.

The size of the pattern indicates that a bullish breakout above the head of the pattern, around the $280.00 resistance level, could see the BCH/USD pair rallying towards the $360.00 area.

With this in mind, watch out for further gains above the $300.00 level if the bearish head and shoulders pattern is invalidated.

Bitcoin Cash technical summary

Bitcoin Cash technical analysis highlights that bulls may start to rally the cryptocurrency above the $300.00 level. The $330.00 and $360.00 levels are seen as possible upside targets.

Bitcoin Cash to US Dollar
Daily change
110.4
Low: 109.3
High: 110.65
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