Bitcoin Cash(BCH) Bears Applying heavy Pressure From The Level Of $60

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 prices adopted a negative momentum and currently continuing its trading with it below the level of 257.
  • The BHC/BTC is performing negatively with the loss of -0.34%, bringing the level to 0.02888136.

Bitcoin cash BCH prices are struggling to reach a resistance level of $260. After losing their bullish nature, prices are mostly suffering in negative trade and heavy variations.

Bitcoin cash acquiring a gradual climb is the key factor that can lead to prices out of this negative situation.

The price level of $255 is providing major support to the BCH prices right after they took it, but yet prices are not priming up.

price is facing strong resistance at $260 level, as a result of which BCH prices are falling.

With the help of their current support level, BCH prices might reach the price level of $258 and then try to acquire a gradual climb over $260.

The  market capitalization of Bitcoin Cash is is$4,728,945,261 with volume traded of $2,993,852,484 and supply of 18,395,906BCH.

Bitcoin Cash Price Analysis

bch1
Source:tradingview 

The price might face negative trade in today’s market and might end up facing some serious plummet.

BCH is trading below the level of $257 with a negative pattern is only making it difficult for bitcoin cash prices to acquire a strong resistance level of $260.

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

The MACD levels are trading majorly in the selling volume, and buying volume is falling, but there are chances of some positive trade to start in bitcoin cash.

The24hr- RSI is trading with the flat trend at the bullish zone above the average level of 50, but it is not a positive sign.

The 24hr-CCI is trading in the normal region after suffering bearish momentum from the heights in a continuous manner.

Resistance level: $260

Support level:  $255

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