Price Analysis

Declining Trend in Bitcoin Cash (BCH); Trades Around $227

  • Bitcoin Cash (BCH) price touches $227 after a slow beginning

The crypto market is seen catching hold on the prevalent volatility. However, many currencies are now dealing with profit. Bitcoin Cash (BCH) is also amongst the cryptocurrencies that were affected by the fluctuation.

However, the current trading scenario is indicating a slight improvement. Let’s take a look at the price chart.

Bitcoin Cash Price Analysis:

Bitcoin Cash, in the month of September, started trading at $280. Just when the price escalated to $305 by 8.12%. Unable to hold, the price moved down to $279 by 8.73%. Later, there was again an upsurge that took the coin to $313 marking a progression of 12.10%. The price slipped a little and tried to keep it tight at around $310. The price was seen taking a huge drop from $330 to $220 by 37.41%, and the month closed at $236 with a loss of 15.71%. In October, the price moved from $236 to $217 by 8.79%. The price improved in the latter days and took it to $240 from $216 by 11.15%. The current trading price is at $226.

Bitcoin Cash Price
BCH Chart By TradingView

Bitcoin Cash is dealing with the market cap of $4,094,402,175, 24hr volume is at $1,212,946,126 and the circulating supply is noted as 18,056,325 BCH. The resistance and support level calculated is as follows:

Resistance Level Price
R1$227.66
R2$231.19
R3$233.49
Support Level Price
S1$221.83
S2$219.53
S3$216

The immediate resistance has already been breached, and the coin is now approaching for the next. The major resistance level is also expected to be broken soon as the current scenario of BCH is giving positive indications.

The traders interested in the coin are recommended to select a long-term investment plan with BCH. The specified period is likely to bring the desired 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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