Bitcoin Cash was anticipated to start 2020 with a bang. The opening was with a marginal loss, but the same continued today and extended its wings. Presently, the BCH coin price is trading downwards and looks like; it would the day with a similar note. The speculations of an uptrend are shifted to the second week. The coin might improve the momentum till then.
Bitcoin Cash Price Analysis
Yesterday, Bitcoin Cash started at $205. The price jumped to $206 by 0.26%. The currency slipped to $204 by 0.80%. The coin escalated again and touched $205 by 0.73%. The price started falling and closed the day at $203 by a 1.11% loss in the price. The intraday movement in coin brought $0.98% regression at a price. Today, Bitcoin Cash began with a heavy drop. The price counters moved from $203 to $200 by 1.77%. The price jumped to $203 by 1.46%.
Bitcoin Cash is dealing at $203. The coin is quite near the immediate support level at $202. The same might get breached in the coming hours. The closing in Bitcoin Cash might be near the next support level at $200.
|Resistance Level||Price||Support Level||Price|
|R1||$ 207.25||S1||$ 202.38|
|R2||$ 210.1||S2||$ 200.36|
|R3||$ 212.12||S3||$ 197.51|
Bitcoin Cash is best suited for long-term investors. The short term might be chancy for the traders; hence, we wouldn’t vote for the same.