Price Analysis

Bitcoin Cash (BCH) Fails to Maintain the Growth; Got Stuck at $315

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Bitcoin Cash price has moved 1.3% down over the last 24 hours, and the current value is roaming around $315. Though the decrease is not huge, it hints at the onset of an upcoming struggle. It has shown four significant price variations in the last 24 hours.

Bitcoin Cash Price Analysis:

The first variation of Bitcoin Cash happened over the first 2 hours and 47 minutes of the day, and it cost $7.35 due to a 2.26% fall. After a few minutes of growth, it took a dip of 1.21% and lost $3.88 to be placed at $316.35 by 11:11 UTC. The third price variation came as another shock to Bitcoin Cash and between 12:59 and 17:01 UTC; it fell by 3.12% to touch $309.45. The final swing started at 17:01 UTC, and over the next nine and a half hours, it could lift the price by 2.95% to reach $318.55. As can be seen in the chart, the current price of BCH is still above 20 days and 50 days moving averages. It hints that the current status of BCH coin is better than previous days, but the best may take some more time to come.

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Bitcoin Cash Price
Bitcoin Cash Chart By TradingView

Bitcoin Cash may get stuck at the same range for some time, and then, on the upside, it may trade up to its the next resistance $322. And on the downside, BCH price may find the support of $310. It has a bullish medium-term outlook.

Bitcoin Cash (BCH) Resistance and Support Levels
1st Resistance $322.8733333
2nd Resistance $330.3766667
3rd Resistance $335.6833333
1st Support Level $310.0633333
2nd Support Level $304.7566667
3rd Support Level $297.2533333

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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