In a matter of hours, the dream of Bitcoin Cash touching $300 is shattered. The coin loses 1.78% in the last 24 hours and now it has been dragged to $287 from $295 in a day. Bitcoin Cash has shown three significant price changes in this period.
Bitcoin Cash Price Analysis
BCH coin initiated the day with a hike of 3.61% between 00:59 UTC and 11:13 UTC and this hike added $10.52 and placed the price at $302.06, the highest point of the day. This was followed by a steep fall of 6.95% over the next 9 hours. This dip had a break at 17:33 UTC and these two series of falls cost the Bitcoin Cash $20.99. The last swing was a hike of 2.39% and it added $6.72 to the BCH coin and made the coin to roam around $287.83.
Bitcoin Cash has all the price movement features of Bitcoin and it has followed the same pattern in the last 24 hours as well. This coin may have to wait a little longer before getting any good sign for the price movement of BCH to USD. It may soon touch the support at $280. Following are the calculated resistance and support levels:
R1: $297.53, R2: $307.62 and R3: $314.20
S1: $280.86, S2: $274.28 and S3: 264.19