BCH - Analysis

BCH continued its range trend during the last week. The price is still in the short-term ascending channel. In the 4-hour time frame for this currency, resistance is considered in the range of 120-122 dollars, which is expected to be accompanied by a reaction after hitting it. But since the short-term trend is upward, there is a possibility of breaking this resistance and moving towards the resistance of the ceiling of the ascending channel.

In this case, the second target is in the range of 127 to 132 dollars. But if the buyers fail to push the price above the $121 resistance area, there is a possibility of breaking the channel floor support and the $110 area support. The following supports that we can consider for this currency are in the range of 94 to 101 dollars. We can also consider a dynamic resistance on the chart, which is exactly in the resistance range of 120 to 121 dollars. Therefore, this resistance is the turning point for the continuation of the trend.

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