Bitcoin Cash ( BCH) Price Analysis – Is it a Bearish Ride?

  • Bitcoin Cash ( BCH ) drops to 6.37% low over 24-hour trade 
  • with a slight bullish correction, the price settles in $240 region 

With the Marker Cap of $4.47 billion valuations, BCH is on 5th rank and currently trading at $$242.27 against USD and 0.02769552 BTC against bitcoin with 24 hour low over -3.94%. 

The bitcoin cash ( BCH) dropped sharply around 7% low on 24-hour trading and trades at $240 range. In the early hours the cryptocurrency almost broke the $260, but then swept by as low as  2% low bearish correction. 

The coin couldn’t achieve the 100-Days EMA yesterday which was evaluated around $240 which is why the price dropped. Feared to go beyond $230 in Press times but there was the quick bounce back to $240 price. 

It is very clear that today’s price fall is due to the Bitcoin drop, breaking $9000 and ranging at $8700. 

Also read, Crash or Rise – Bitcoin Cash Price Prediction 2020

BCH Short Term Price analysis

The Market Seems neutral now. $277 would be figures that can charge the bulls, a $230 support break would cause the bearish ride. 

Next Support Terms beneath $230 is $212, $200, $195 and if the bear continues then the Seller needs to hold more as the next supports are at $180, $170, and $157.

Bitcoin Cash ( BCH)

What are the Bulls take the Seat? 

100-Days EMA is close if buyers make carts and break the ranging of $230 and $245 the next resistance level will be $260. To reach 200-Days EMA the resistance is at $277 and is this is reached, the Bullish Trip is assured. 

If the Buyers continue to break $277, there are 5 resistance level $3288, $300, $310, $318,l $340 and $360 .

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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