• Bitcoin cash price is recovering from the $400 support zone against the US Dollar.
  • The price is still well below $550 and the 55 simple moving average (4-hours).
  • There is a major bearish trend line forming with resistance near $500 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase).
  • The pair could start a major increase if it clears the $500 resistance and then the 55 SMA.

Technical indicators

4 hours MACD – The MACD for BCH/USD is now gaining pace in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for BCH/USD is near the 50 level.

Key Support Levels – $450 and $400.

Key Resistance Levels – $500 and $550.