Bitcoin Cash (BCH) Prices Rally Again Coming Shorthanded Against $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.
  • BCH maintained a climb towards the crucial resistance level, and then instead of maintaining a sustainable climb it started fading.
  • BCH prices adopted a flat trend and currently trading at the level of $225
  • The BHC/BTC is performing positively with the profit of 0.32% bringing the level to 0.03234212.

BCH prices are having a hard time to achieve the resistance level of $230, even after acquiring a gradual climb from the prices level of $220, prices failed to acquire the strong up and end up adopting flat trend at the resistance line of $225.

The price level of $220 is providing major support to the BCH prices until they acquired it after suffering in yesterday’s trading session. This support level is also pushing prices up but it is coming shorthanded against the resistance level of $225.

With the help of their current support level, BCH prices reach the crucial resistances level of $225  and trying to acquire the level but failing in it.

The  market capitalization of Bitcoin Cash is is$4,151,779,995 USD with volume traded of $2,942,543,117 and circulative supply of 18,387,044 BCH.

Bitcoin Cash (BCH) Price Analysis

bch
Source:tradingview

 BCH prices did try to commit a recovery in today’s market. From trading down below the level of $225 with an upsurge due to the support level of $220. Currently, there is a major dominance of the strong resistance level as prices are under pressure.

The technical indicators and oscillators are showing an increase in selling volume which can lead prices to a negative trade.

The MACD levels were witnessing the trading majorly in the selling volume and it is about to be over as positive trade is emerging,

The24hr- RSI was trading in the bearish zone below the normal level but it’s getting better as it is about to maintain its positive divergence and currently it is trading right below the level of 50.

The 24hr-CCI climbs back to the normal region after torching the depth of the overselling region.

Resistance level: $230
Support level:  $220

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