Price Analysis

Bitcoin Cash (BCH) Marks 6% Drop Since the Last Week

Bitcoin Cash is trading downwards from the last few days. The falling price of the coin is quite disappointing. The traders were expecting a price recovery, but look like they will have to wait for some time. The week-long chart is indicating hefty fall in the BCH price. The same trend seems to continue today. If we look at yesterday’s price movement, Bitcoin Cash was seen touching a high at $216.08 and low at $211.59.

Bitcoin Cash Price Analysis

Bitcoin Cash started the week at $226.801 and slipped to $226.222 by a marginal drop of 0.26%. On October 14, the price surged and touched $227.519 by 0.57%. On the next day, the BCH coin started moving downside and touched $224.625 by 1.27%. The price shifted to $216.347. The regression was 3.69%. Then, the price of Bitcoin Cash improved on October 17 and went up to $219.283 by 1.36%. On the next day, the price again dropped and reached to $211.784. Yesterday, Bitcoin Cash was seen trading around $212.886. Today, there is a slight improvement in the coin price.

Bitcoin Cash
Bitcoin Cash Price Chart by TradingView

BCH coin is counted among the top result-yielding cryptocurrencies. The market cap of Bitcoin Cash is at $3,887,523,414. The 24-hour volume stands at $1,157,350,386. The circulating supply is marked as 18,067,388 BCH. The ROI is noted as -61.29%.

As per the current trend, Bitcoin Cash may escalate up to its next resistance of $216. Conversely, on the downside, there are also indications that it would fall below the next support level of $211. To avoid any misfortune, traders should consider following list of calculated support and resistance levels of Bitcoin Cash:

Resistance Levels Price
R1$216.18
R2$218.37
R3$220.67
Support Levels Price
S1$211.69
S2$209.39
S3$207.2

The current price movement is not impressive, but it would improve in the future. The BCH coin is best suited for long-term traders. The same would give the traders the expected result.

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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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