Bitcoin Cash (BCH) has Been Struggling to rise

In the recent past, Bitcoin Cash (BCH) has been struggling to rise above the $440 and $450 levels. In the past 24 hours, BCH/USD pair has gained momentum and risen above the $450 resistance.

The upward trend was powerful as the cryptocurrency attained the 61.8% Fib retracement measure of the previous slide from the $478 high to $410. The value even exceeded $450 and the 100 hourly measure progressive average."Bitcoin Cash (BCH) has Been Struggling to rise"

Bitcoin Cash (BCH) is also known as a brother to Bitcoin BTC. It is one of the major and most valued Cryptocurrencies in the digital currency world. Currently, Bitcoin Cash BCH ranked on 4th largest Cryptocurrency with a market cap of $20.69 billion.

BCH was launched in 2017 to provide faster and cost-effective transactions than its elder brother.More significantly, we saw a break above this week’s trailed major bearish trend line at $445 on the hourly chart of the BCH/USD pair as shown above. The pair transacted as high as $475 and it presently adjusting lesser.

It already attained the 23.6% Fib retracement mark of the recent trend from the $410 low to $475 high.

On the other side, there are numerous backups near the $450 mark. The mentioned $450 mark was a struggle previously and now it could offer support coupled with the 100 hourly SMA.

Less $450, the 50% Fib retracement mark of the past trend- from $410 low to $475 high- is at $443.

Further analysis of the chart depicts BCH being ranked above the $445 to $450 region and it might continue to rise more towards $480 to $500.