Home Cryptocurrency Concerning the Condition of Bitcoin Cash in the Market

Concerning the Condition of Bitcoin Cash in the Market

Concerning the Condition of Bitcoin Cash in the Market

  • Bitcoin Cash is seen dropping in the current trading cycle.
  • It has dropped beyond its support price of 210$, expected to dip more in the current market condition.

There has been a constant state of chaos in the markets of cryptocurrency, continuous selling in the market is observed because of which prices of many cryptocurrencies are falling beyond their support price.

The same is the case with Bitcoin Cash, a condition of constant pressure have been created on the Bitcoin Cash. Its support price marked at 210$ and 200$ are not looking so strong on looking the condition of the market, though a spike was observed in the price of the asset by it could not go beyond the golden mark of 230$, it applied its breaks at 227$ which is a thing to be concerned of.

Condition of Bitcoin Cash in the Market

A sharp decline was observed in the Sunday trading market in Bitcoin Cash, which is assumed to be the result of slow rising patterns in the short term market of the asset.

Currently, the asset is trading below the mark of 50 SMA in the market which is a big thing to be worried about, if this condition continues and the support at 210$ could not hold on, Bitcoin Cash is assumed to be dropped to directly on its next support of 200$.

And this is the region of total concern as this is the last area for Bitcoin Cash to save its dignity, beyond that area it could thrash to a very deeper dip especially in this condition if market with a very large number sellers present.

Analysis for next week Market

Main market indicators ‘RSI and MACD’ have reported that selling might get increased in the upcoming session as the market grows hot, it is possible that Bitcoin Cash starts the new week with an even slower start which is beginning on Monday.

Download our App for getting faster updates at your fingertips.

en badge web generic.b07819ff

Anurag Agarwalhttps://www.thecoinrepublic.com
Anurag Agarwal is a writer for Thecoinrepublic. He is pursuant of B.tech in biotechnology from M.I.E.T Meerut, who's passion is to read and express through the medium of words. He is contributing the regular in-depth analysis of News and updates.

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange


Must Read

XRP Bulls Unable to Hold Levels Above $0.260 Signaling for Potential Consolidation

XRP price levels were able to break above the crucial mark of $0.260 on Tuesday's market session as the community had buy-back...

EagleFx Services Review

Headquartered at the Commonwealth of Dominica, Eaglefx was formed in 2019 with a vision to ease trading for its customers and give...

Coinmerce Registered at the Dutch Central Bank

Coinmerce can proudly announce that we have been added to the crypto register of the Dutch central bank on November 9th, 2020. Of...

Binance as the Leader of Spot and Derivatives

Binance has again surpassed its competitors in terms of spot tradingBinance achieved a volume of $164.8 billion from only the derivatives market

Dash Trading in Critical Support Area Unable to Regain its Positive Momentum

Dash is still trading negative after breaking below the major support level of $65.00 and unable to revive its positive momentum The DASH/BTC...

Tezos Remains Negative after the Breaks Below Crucial Price Level of $2.00

Tezos was unable to regain its positive momentum besides the overall market conditions turning green on Wednesday’s trading sessionThe XTZ/BTC pair is...

Related News

Paypal to start Crypto Service: CEO Discloses Expanded Limits, Venmo Rollout, and Expansion Plans

The organization is presently rolling out crypto usefulness to U.S. clients, after which it will dispatch the administration globally and on the...

Virtual Currencies can be Considered as Trade Fund- Iran’s Central Bank

Iranian Government is suffering from a shortage of foreign currency and so planning to promote imports by giving permission to use virtual...

Jeremy Allaire, Co-Founder & CEO Circle Keen on using PayPal to Buy Bitcoin

PayPal announced that both direct payment and in-app purchase of cryptocurrencies would officially launch by next year on their platformThere is no...

Peru Starts taking Cryptocurrencies Regulation Seriously

The bitcoins' waving prices and the resistance put up by the Peru Government resulted in bitcoins and other cryptocurrencies took a huge...

CoinMetrics Partners with KPMG to Create Plan for Crypto Adoption

Two products will get integrated with KPMG’s product Chain FusionFarum will represent an unprecedented step towards custodians and exchanges