Bitcoin Cash at the Support Level of $235 Trading Flat

Pratik Chadhokar
Pratik Chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and possesses strong technical analytical skills. He is well known for his entertaining and informative analysis of the Financial markets.
  • The altcoin gains 1.25% in the last 24-hours and 8.99% in the last seven days
  • Coin trading at the level of $241.40 with a volume of $1,950,160,076 and Bitcoin dominance at 58.4%
  • The coin is in the bullish momentum after making the low of $205.5 over the monthly chart
Source: tradingview
souurce:tradingview

Bitcoin Cash after making the high of $334 on the monthly chart drops top the level of $205 as the monthly low of the coin and after making low the price recovery is seen in the coin and trading around the level of $241 with the minor support of $235 and $224 is the strong support for the coin.

The market capitalization of the cryptoasset is $4,476,524,956 and the volume traded in the last 24-hours is $1,950,160,076.

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souurce:tradingview

Directional Movement Indicator (DMI) of the coin gives a crossover of -DI lines over the +DI line which indicates the positive momentum in the coming trading session. 

Screenshot from 2020 10 13 14 00 56
Source: Tradingview

The Relative Strength Index (RSI) is trading at the level of 57 near the neutral range and the range-bound as it indicates the volatility in the coin, however, the RSI is in uptrend indicates the positive momentum in the coin. Likewise, the Commodity Channel Index (CCI) also indicates the volatility in the coin trading at the level of 89 CCI. The positive price momentum is seen as respect to the support and resistance.

The resistance level: $245.50 and $248.90

The support level: $235 and $224 

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