Price Analysis

Bitcoin Cash (BCH) Exhibits Bearish Trend; Price Hovers Around $230

  • Bitcoin Cash price registers heavy fluctuations
  • The intraday traders might suffer marginal loss by the end of the trading day

Bitcoin Cash (BCH) started the day with an escalation. The price started falling recently and is now moving rapidly towards the immediate support level. The coin has been badly affected by the heavy fluctuation and thus there is a loss in its momentum. It is anticipated that the market would soon come out of the volatility and the coin would shine again.

Yesterday, BCH price touched a high at $236.73 and a low at $224.11 marking a volume of $1,658,436,725. To understand the intraday movement of the coin more precisely, let’s have a look at the chart.

BCH to USD Price Analysis:

Yesterday, BCH price started dealing at $224 and immediately the coin jumped to $233 by 4.13%. Later, the price fell to $228 by 2.36%. There was again a progression in the price that took it to $235 by 2.99%. The price booked a loss during the closing hours and touched $231.

The intraday progression of the coin is marked as $2.36%. The price started the day with an upsurge. The counters changed from $231 to $233 by 1.01%. The price slipped to $230 by 1.26%. There was a progression in the price that took it up to $233. The coin is currently trading at $229.

Bitcoin Cash Price Chart
Bitcoin Cash Chart by TradingView

Bitcoin Cash is dealing currently at $230. The price is tilted towards the support level and is expected to touch it soon. The visible recovery in the coin would be seen in some time. The support and resistance level of the coin is calculated as under.

Resistance Level Price
R1$238.62
R2$243.99
R3$251.24
Support Level Price
S1$226
S2$218.75
S3$213.38

The currency has always given fruitful results to the investors. The current scenario might not be impressive, but in the coming days, the escalation in the price is anticipated to take place. For the traders interested in the coin, the long-term investment seems best for earning huge dividends.

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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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