Price Analysis

Bitcoin Cash Loses 2.45% to Touch $226, Resistance Awaits at $230

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  • Bitcoin Cash has lost 2.45% in the last 24 hours
  • The next resistance for BCH awaits at 230 USD

Bitcoin Cash (BCH) has been down by 2.45% over the last 24 hours and the value against USD has now touched the bottom at 226 USD. It has shown three major price swings that clearly denote a downward movement of BCH.

Bitcoin Cash Price Analysis:

Yesterday, BCH opened the day trading at 232.68 USD and its first swing started at 01:12 UTC and over the next 9 hours and 21 minutes, it lost 5.16 USD to be placed at 228.94 USD. This 2.20% decline in the value was followed by a strengthening of 1.42% that happened between 10:33 UTC and 16:41 UTC which pushed the value to 232.18 USD. The last swing for BCH started at 16:41 UTC and over the next 6 hours and 31 minutes, it was down by 2.66% marking the lowest for the day at 226 USD.

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The market cap of BCH, however, has shown strength in the last 24 hours. The market cap has risen to 4.121651 billion USD from 4.121197 billion USD.

Bitcoin Cash Price Chart
Bitcoin Cash Chart by TradingView

BCH’s 50-day and the 20-day moving average is at 256.31 USD and 224.58 USD respectively. The current trading price is 226.96 USD which manifests to be 11.45% less and 1.05% more than the 50-day and 20-day moving average respectively. Bitcoin Cash to USD may find the next resistance at 232.6 USD.

Bitcoin Cash (BCH) Resistance and Support Levels
1st Resistance $232.6
2nd Resistance $237.16
3rd Resistance $239.74
1st Support Level $225.46
2nd Support Level $222.88
3rd Support Level $218.32

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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