Bitcoin Cash is considered as one of the top cryptocurrencies in the market. The coin has suffered a lot during the heavy downtrend. However, the coin also reflected an improvement in the later years and now we can spot a voluptuous escalation in BCH.
The coin is escalated by 10% on the price chart. The upsurge might create selling pressure in the coin, but it looks like Bitcoin Cash would keep the uptrend locked for a while. The traders were waiting for such improvement for the longest time.
Bitcoin Cash Price Analysis:
Yesterday, Bitcoin Cash started dealing at $189. The currency escalated to $192 by 1.88%. The price moved to $202 by 5.17%. The currency slipped to $198 by 2.18%. Further, the price moved to $201 by 1.47%. The final uptrend took place in the final hour of the day. The price jumped to $205 from $201 by 1.46%. The intraday movement in Bitcoin Cash reflected 8.14% progression in the price. Today, the BCH price escalated to $209 from $205 by 2.11%. The price slipped in the later hour to $206 by 1.61%. Further, the coin jumped to $207. The price slipped to $205.
There is a slight downtrend in the coin experienced by the traders. The currency is anticipated to recover in the later hour of the day. The chances of escalating to the immediate resistance level at $209 are still high with Bitcoin Cash. The intraday traders would close the day with a profit score.
Bitcoin Cash is recommended for long-term investors. The short-term investment isn’t suggested as it might not bring the expected return to the investors.