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Price Analysis

Bitcoin Cash Records 1.88% Fall; Trading Value Hovers Around $230

  • Bitcoin Cash loses 1.88% in the past 24 hours to fall to 230 USD.
  • The next resistance for BCH may come at 236 USD.

Bitcoin Cash plunges by 1.88% over the past 24 hours and the current trading price is marked as low as 230 USD. The three price swings in the last day have been in the range between 239 USD and 227 USD.

Bitcoin Cash Price Analysis

Bitcoin Cash opened the day at 234.42 USD and its first swing started at 233.21 USD and within no time, it rose to the highest price of the said time frame at 239.59 USD. From the stated height, BCH witnessed a huge leap towards 227 USD cutting 5.14% by 20:32 UTC. However, this was followed by a hike of 2.39% and this pushed it to 232.71 USD.

The current market cap of BCH stands at 4.173 billion USD and this figure has been fetched after a fall in the market cap from 4.193 billion USD over the last 24 hours.

Bitcoin Cash Price
Bitcoin Cash Chart By TradingView

Bitcoin Cash’s 20-day average is well above its 50-day average due to its initiation of recovery in the last few days. And its current trend is above both its 50-day and 20-day averages. BCH is likely to find some bullish days ahead.

Resistance and Support Levels

R1- $236.2, R2- $240.04, R3- $241.03

S1- $231.37, S2- $230.38, S3- $226.54

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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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