Bitcoin Cash price has registered 5.71% growth over the last 24 hours, and the value has now gone way above the $180 mark. It has shown three huge price fluctuations in this period which lies between $170 to $190.
BCH Eyes Recovery After Volatile Swing
BCH coin was being traded at $176.75 with upward momentum in the first hour of yesterday, and its first major shift started at 02:28 UTC after hitting $181.27. Over the next 10 hours & 37 minutes, the Bitcoin Cash lost 5.91% value and got placed at $170.55.
However, it was followed by a whopping 11.92% hike that added $20.35 and pushed the BCH price to $190.98, the highest for the day. From this high, the coin couldn’t manage to hold its price above $190 and started trading downwards and lost 2.01% which pushed the price to $187.15. Despite the downward correction, the Bitcoin Cash managed to hold its price level above $185.
If we look at the technicals, the 20 days MA is now at $187.02, and it’s 50 days MA stands at $187.06. The current price of Bitcoin Cash is at $186.85, which is 0.11% and 0.09% less than the 50 days and 20 days moving averages, respectively. As per the current placement of moving averages along with the current price, the next few days may see slight correction. However, the medium-term is likely to be bullish. For further updates, just go through our Forecast section to get the future BCH price prediction for this year.
Resistance and Support Levels
R1- $195.95, R2- $202.18, R3- $213.68
S1- $178.22, S2- $166.72, S3- $160.49
