BCH/USD rebound eyes $200

[bitcoincash]

Bitcoin Cash price stuck between a rock and a hard place ($170 - $180) despite the bull attempts to push it to higher levels.

BTC/USD is in the hands of the bulls but selling activities cap movement under $180.

Spot rate: $178

Relative change: 7.62

Percentage change: 4.55%

Trend: Bullish

Volatility: High

Bitcoin Cash price bulls have established $170 as the key support area following a shallow recovery from the recent dip under $150.

BCH/USD struggles to clear the selling activity at $180 continues. The cryptoassets is stuck in a narrow range between $170 and $180. Movements above $180 are likely to trigger gains towards $200.

The 200-day SMA is expected to hinder bullish movements at $278 while the 50 SMA holds ground at $350. As long as the 50 SMA stays above the 200 SMA in the daily, Bitcoin bulls have a chance to push for a reversal above $200.