February 8, 2018 – Bitcoin (available on Coinbase) Cash Price Watch

Key Highlights:

BCH recently broke through the $1,300 level and is now on an uptrend
A major support level of $1,220 has been established
The MACD indicator is sending a sTron (available on Binance)g bullish signal

Bitcoin (available on Coinbase) Cash Breaks Through $1,300

Earlier today, Bitcoin (available on Coinbase) Cash soared to above $1,300 and reached as high as $1,317.27. Despite cooling down momentarily, it returned to an upward trajectory and a new bullish trend line has been formed. Currently, BCH is approaching the $1,300 level once again, now trading at $1,275.40. This is still a significant gain considering it dropped to as low as $951.57 earlier.

Source: Tradingview

As of now, a major support level of $1,220 has been tested. Investors will need to monitor how the bullish trend transpires next, especially if it can break the $1,280 barrier.

Since the bollinger bands both lie above the current BCH price, chances are it’ll move back up toward the middle of the bands. The MACD indicator sent a sTron (available on Binance)g bull signal over the past three hours when BCH bounced from $1,240 to $1,300.

Looking at the Technical Indicators:

MACD — sTron (available on Binance)g bullish signal when the MACD and signal lines crossed over
Major Support Level — $1,220
Major Resistance Level — $1,320

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In addition to writing financial content and analysis, Jackson has worked as a business journalist at Stockwatch and research analyst at various organizations. He obtained his MA Economics from Concordia University in Montreal and BA Economics from the University of British Columbia, with special emphasis on environmental and industrial economics.