Bitcoin Cash (BCH) the network split sister of the Bitcoin has taken a whopping drive with three-month high trading three hundred and ninety-four dollars ($394) at the time of publishing and headed well over four hundred dollars mark.
BCH price spent a good part of the last thirty days with the bear however, the bull streak that started on 1st of May took small hits on 7th, 8th and 10th of May with minor corrections until entering the three-day long bear rally starting from 17th of May.
The price analysis of BCH/USD price pair has revealed that the surging trends are prevalent and bulls are effectively holding the advantage.
The RSI is showing positive momentum in this regard and the averages are rising up on the chart. The price has dropped a bit to the 20-day average and this point is now acting as a support.
The BCH/USD can touch the resistance zone if this pair would bounce off to the 20-day exponential mean average (EMA), however, if the pair falls below the 20-day average the price can reach to the support line of the chart.
The traders are hoping that there would be a breakout in the prices as any breakdown would mean bearish trends for the pair.
On the four hour chart, the BCH price is showing some promising results since the upper support level is found at four hundred and forty-nine dollars ($449.21).
The Stoch RSI chart, however, reveals some interesting details. Bitcoin Cash price has been taking a plunge every single time the stoch RSI score enter the oversold zone below 20.
At the time of writing, BCH price is hovering right below the four hundred dollar mark touching as high as three hundred and ninety-nine dollars ($399) as we write these lines and going back down to three hundred and ninety-seven dollars ($397).
If the currency can maintain an overbought RSI score the bulls may as well smash past the four hundred and fifty dollars ($450) mark in a matter in the coming week.