Bitcoin Cash (BCH) Price Bulls Might Emerge Due To The Level Of $240

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 and slip down.
  • BCH prices adopted a negative momentum but currently trading above the level of $240 with bullish momentum.
  • The BHC/BTC is performing negatively with the loss of -0.35% bringing the level to 0.03120030.

Bitcoin Cash prices were having a hard time to achieve the resistance level of $245, even after acquiring a gradual climb from the prices level of $240, prices failed to acquire the strong up and end up adopting the negative trend.

The price level of $240 is providing major support to the BCH prices while they acquired it after suffering the fall due to the resistance line. This support level is also pushing prices again up in front of the resistance level.

With the help of their current support level, BHC prices might reach the crucial resistances level of $245  and try to acquire a gradual climb over it.

The  market capitalization of Bitcoin Cash is is$4,448,122,214 USD with volume traded of $3,524,927,607 and circulative supply of 18,392,500 BCH.

Bitcoin Cash (BCH) Price Analysis

bch1
Source:tradingview

BCH prices did try to commit an upsurge in today’s market but end up fading. From trading down below the level of $240 to acquiring an upsurge due to the support level of $235 to recapture the level of $240. Currently, there is a major dominance of the strong resistance level as prices are under pressure and facing volatility.

The technical indicators and oscillators are showing an increase in buying volume which might lead prices to a positive trade.

The MACD levels are witnessing the trading majorly in the selling volume and buying volume might emerge but bears are looking strong.

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 above the level of 50.

The 24hr-CCI is trading in the normal region after torching the depth of the region and then trading in the pump and dump pattern.

Resistance level: $245
Support level:  $240

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