Price Analysis

Bitcoin Cash (BCH) Descends to $291; Awaits a Price Recovery

Bitcoin Cash price is battling with the bear from the opening hours. The loss in the price was voluptuous. However, the BCH coin is now seen recovering from the heavy price drop. The speculations are that the coin would keep the upsurge intact and bring a flourishing future. Yesterday, BCH was seen touching a high at $303.13 and a low at $288.73. The volume was at $2,598,715,593.

Bitcoin Cash Price Analysis:

Yesterday, Bitcoin Cash (BCH) started dealing at $293.3693. The price escalated to $304.0419 by 3.62%. The BCH price couldn’t hold itself and fell to $293.9572 by 3.32%.

Further, the price fell to $283.8272 by 4.33% drop. Towards the end of the day, there was a slight recovery that brought the price up to $289 by 2.01%.

Today, Bitcoin Cash opened at $289.5253 and escalated to $291.4247 by 0.66%.

BCH to USD Price Chart
Bitcoin Cash Chart by TradingView

BCH price is slowly moving up. It is likely to cross its immediate resistance level at $302. There is a strong possibility that Bitcoin Cash would violate the next level at $312.59. The entire market has started recovering. The intraday traders are likely to close the day with profits.

Resistance Level Price
R1$302.65
R2$312.59
R3$322.05
Support Level Price
S1$283.25
S2$273.79
S2$263.85

The traders who have invested in Bitcoin Cash must be aware of the movement in the coin. The result-giving coin would go best with long-term investment. The short-term might turn our risky.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.
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