The TradingView analyst Kyer believes that the cryptocurrency would soon break the resistance placed at the $267 level.
1-Day Bitcoin Cash price movement
The BCHUSD pair lay below the $242.50 level at the beginning of the day’s trade, while it saw a continuous upward movement over the day’s course. The cryptocurrency crossed the $257.50 level by 16:30 GMT while on the 29th of April, it closed with a trading value of $257.55 US Dollars.
On the 30th of April, the BCHUSD pair saw another uptrend and the price line immediately moved across the $268 mark. At the time of writing, Bitcoin Cash trades at $267.82 US Dollars.
Bitcoin Cash: breaks $267 resistance
According to Kyer’s idea, the cryptocurrency had recently made its way across the resistance that lay at the $246.3 mark and the analyst suggested that the cryptocurrency will soon break the $267 resistance.
Bitcoin Cash price chart by Trading View
This idea came into play on the 29th of April, the cryptocurrency’s price rose by over $28 US Dollars which allowed the coin to reach the resistance placed at the $237.6 mark. This validates the idea presented by the crypto analyst, who had mentioned the current standing of BCHUSD as its upcoming price target only a few hours before the time of writing.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan holds no liability towards any investments based on the information provided on this page.