Bitcoin Cash (BCH) Prices Struggling To Maintain Stability At The Level Of $240

  • BCH maintained a climb towards the crucial resistance level, and then instead of maintaining a sustainable climb it started facing variations.
  • BCH prices adopted a negative trend and currently trading at the level of $229
  • The BHC/BTC is performing negatively with the loss of -1.83% bringing the level to 0.03179184.

BCH prices are having a hard time achieving the price level of $240, even after acquiring a gradual climb from the prices level of $235, prices failed to acquire the strong up and end up adopting flat trend at the resistance line of $240.

The price level of $235 is providing major support to the BCH prices after they acquired it due to the price fall in today’s trading session. This support level is also pushing prices up but it is coming shorthanded against the resistance level of $240 as prices are unable to maintain stability up there.

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The  market capitalization of Bitcoin Cash is $4,339,591,606 USD with volume traded of $3,971,747,112 and circulative supply of 18,388,813 BCH.

Bitcoin Cash Price Analysis

bitcoin cash
Source:tradingview

Bitcoin cash commits a recovery in today’s market and then started trading with volatility near the level of $240. Prices were trading down below the level of $230 and then they acquired an upsurge due to the support level of $225. Currently, there is a major dominance of the strong resistance level of $240  as prices are under pressure.

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

The MACD levels are witnessing its trading majorly in the buying volume as the positive trade is emerging with a bullish breakout.

The24hr- RSI is trading in the bullish zone above the normal level and it’s getting better as it is maintained its upsurge to the level of 60 but due to an increase in selling volume it acquired negative pattern.

The 24hr-CCI falls back to the normal region after torching the heights of the overbuying region.

Resistance level: $245

Support level:  $235

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Ayush Malviya
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.

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