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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%. 

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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.

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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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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