Bitcoin Cash (BCH) Forwards Steps Towards Stability
Bitcoin Cash has shown a stable outlook over the last 24 hours after the last day’s abrupt decline in the price. It has lost 1.61% over the last day, and the value has now fallen to 208 USD from 211 USD. The range of the three major price variations has been between 218 USD and 203 USD.
Bitcoin Cash Price Prediction:
BCH coin opened the day at 211.63 USD, and over the next 8 hours, it faced a freefall of 4.02% that cost it 8.51 USD and pushed the price to 203.12 USD.
However, it was followed by a 7.80% hike that added 15.84 USD and Bitcoin Cash price got scaled as high as 218.94 USD, the highest for the day.
The last variation happened between 13:24 & 00:05 UTC today, and in these 10 hours, BCH lost 5.40%, and the price got pushed to 207.11 USD. The current value is roaming around 208.22 USD.
Over the last seven days, the price of Bitcoin Cash has been full of volatile fluctuations. It started the week at around 220 USD, and the highest point of the last seven days was 226 USD. However, since the starting of December, the BCH price is trading downwards.
Bitcoin Cash’s 20 days MA stands at 208.49 USD, and it’s 50 days MA is now at 208.33 USD. The current price of BCH coin at 208.22 USD is 0.05% and 0.12% less than the 50 days & 20 days moving averages, respectively. As per the BCH forecast, the coin may not see any sudden price rise, but the next resistance is likely to come by 215 USD. Investing in BCH for the short term may not be that fruitful as the long-term will be.
Resistance and Support Levels:
R1- $215.29, R2- $221.30, R3- $ 226
S1- $204.58, S2- $199.88, S3- $193.87
