Ripple Price Analysis
Looking at the chart, the price trades in a bullish zone above $0.4500. However, XRP must rise above $0.4750 to hold profits. If not, there is a risk of a downward reaction below the support level of $0.4500 in the near future. The MACD is in the bearish zone and is moving flat. The RSI is stable around the 55 level and shows a slight buyer’s market. The highest support level is at $0.4500, while resistance is at $0.4750.
Bitcoin Cash Price Highlights
The Bitcoin Cash exchange rate is well above the $700 support with positive signs
There is a new bearish channel forming on the hourly chart with resistance near $740 an ounce
BCH must cross the $740 and $750 resistance levels to move higher in the bullish zone
Bitcoin Cash currently holds the $700 support. BCH must gain momentum above $750 to reach the $800 resistance zone in the near future.
Technical Indicators Signals
There was a decent rally above the $700 resistance. BCH reached the $760 level and almost tested the $800 level. A high was formed at $784 an ounce before the price began to consolidate profits. However, the decline was protected by the support zone at $720. Currently, a new downward channel appears to be forming with resistance near $740 an ounce on the hourly chart. BCH buyers must cross the resistance levels of $740 and $750 to push the price towards $800 in the short term.
Bitcoin Cash Chart from TradingView
Bitcoin Cash Price Analysis
Looking at the chart, the price is in a positive zone above $700 an ounce. It is important that this support level holds up, otherwise any further decline could push the price in a bearish zone towards $650 an ounce. The MACD is currently flat in the bullish zone. The RSI is now above the 50 level and shows a slight buyer’s market. The main support level is at $700, while short-term resistance is at $750.