Bitcoin Cash Trades Marginally below $800 Resistance, Faces Frequent Rejection

[Rockalo]

Bitcoin Cash (BCH) rebounded above $680 support to resume an upward move. The current uptrend is targeted to retest or break the $800 resistance. For the past three days, BCH fell and found support above the $680 for a possible uptrend.

Earlier on, the altcoin has been facing rejection at the recent high. This will be the fourth time; BCH will be rising to retest the $800 resistance. Nevertheless, on May 25, 26, and 27, buyers retested the resistance zone and were repelled. On the upside, if buyers overcome the resistance at $800, BCH will rally to $1000. Conversely, if BCH rises and faces another rejection at the resistance, the market will be compelled to a range-bound movement. BCH/USD is likely to fluctuate between $640 and $800. Source