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# Bitcoin Cash Price Analysis: BCH Could Restart Rally Above $400 Published on There were sharp gains in bitcoin cash price above$380.00 and $400.00. BCH to USD traded as high as$410.48 and it is currently consolidating for the next break above key supports.

## Key Takeaways: BCH/USD

• Bitcoin cash price rallied as high as $410.48 before starting a downside correction against the US Dollar. • BCH/USD is trading above the$375.00 support and a bullish trend line on the 2-hours chart (data feed from Bitstamp).
• Ethereum is up 10{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} above $225.00 and ripple gained momentum above the$0.4250 level.

## Bitcoin Cash Price Analysis

After a strong rise in bitcoin price, bitcoin cash also started a solid upward move above the $350.00 and$380.00 resistance levels. The upward move was such that BCH price broke the $400.00 barrier and traded to a new 2019 high at$410.48.

Looking at the 2-hours chart, bitcoin cash started a downside correction after trading as high as $410.48, but stayed well above the 50 simple moving average (2-hours, purple). There was a break below the$385.00 support and the $370.00 pivot level. However, the price stayed above the$360.00 support and the 50 simple moving average (2-hours, purple). A swing low was formed at $361.29 before the price started a fresh increase. It climbed back above the$385.00 level and the 50{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} Fib retracement level of the slide from $401.48 to$361.29.  However, it seems like the $392.00 and$395.00 levels are currently acting as hurdles for the bulls.

Besides, the price is struggling to clear the 61.8{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} Fib retracement level of the slide from $401.48 to$361.29. There is also a connecting bearish trend line forming with current resistance near $392.90 on the same chart. A successful break above the trend line and$395.00 is likely to open the gates for a push above the $400.00 barrier. In this case, the price could surge above the$410.00 and $415.00 levels. Conversely, if bitcoin cash price declines again, it could find support near$375.00 or a bullish trend line on the same chart. Below the trend line support, the 50 SMA could hold losses near $370.00. Finally, a successful close below$370.00 might start a strong decline back to $350.00. Overall, BCH is placed nicely above the$375.00 support and it is likely to surge above \$400.00 once again.

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