Bitcoin Cash (BCH) Manages To Break The Resistance Level Of $230

Ayush Malviyahttps://www.thecoinrepublic.com/
Ayush Malviya has recently joined as a technical market reporter for Thecoinrepublic- the Leading cryptocurrency news site. He believes that there is a broad scope in Crypto market and blockchain. Thats why he loves to gather knowledge about it and like to analyse the market pattern.
  • Bitcoin Cash BCH manages to climb above the crucial resistance level, and then instead of maintaining a further climb, it collapsed.
  • BCH prices adopted a negative divergence and currently trading near the level of $225
  • The BHC/BTC is performing positive with a profit of 0.40% bringing the level to 0.03384746.

BCH1

The 7day-weekly char reflects that BCH prices are a really hard time to achieve the resistance level of $230, even after acquiring its prices were unable to maintain a gradual climb and shortly collapsed.

The BCH price level of $220 is providing major support to the prices until the acquired it. This support level is also pushing prices up but it is coming shorthanded against the resistance level of $230.

The only option for developing a gradual climb above the level of $230 is to create a support level at the price level of $225 where prices are currently trading.

The  market capitalization of Bitcoin Cash is is$4,152,682,861 USD with volume traded of $3,336,443,057 and circulative supply of 18,353,038 BCH.

Bitcoin Cash Price Analysis

BCH2
Source:tradingview

BCH prices did make an impressive climb. From trading down below near the level of $150 to touching the resistance level of $230. Currently, there is a major dominance of the flat trend in the prices of the cryptocurrency.

The technical indicators and oscillators are showing an increase in selling volume as prices acquired a slight negative divergence in all aspects of the technical chart.

The MACD levels are currently witnessing the trading in majorly selling volume but as it is following the flat trend, there are chances  that buying volume can make a comeback.

The24hr- RSI is trading in the bullish zone above the normal level but it did take a slight negative divergence bearish region.

The 24hr-CCI falls down to the normal region after enjoying trading in over buying region.

Resistance level: $230
Support level:  $220

We Recomaned

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Partners