Bitcoin Cash is trading with strong upside momentum from the last 30 days. The astounding escalation in the coin has marked as 12% progression over the last 24 hours. The impressive upsurge has breached the 7-days high and set a new at $359. The upsurge has spike hope among the traders for a flourishing future. The coming period is likely to give the expected result to the investors. The investment in BCH wouldn’t end up futile.
Bitcoin Cash Price Analysis
Yesterday, Bitcoin Cash started the day dealing at $309.56, and then, the price jumped to $324.27 by 4.75% in the next 8 hours and 31 minutes. The upside movement remained locked with a BCH coin. The price counters changed from $324.27 to $347.13 by 7.12% at 17:13 UTC. After this hike, the currency was trading in a similar range for some time around $347 and closed the day. The intraday movement reflected 12.48% upsurge in the price of Bitcoin Cash.
Today, BCH took the price to $361.32 by 3.74% hike in the initial 30 minutes. The currency price dropped to $352.29 by 2.50% at 05:16 UTC, and then, In the next 1 hour and 41 minutes, Bitcoin Cash price moved to $363 by 3.28%. Further, the price dropped to $359.27. As per the MACD indicator, the signal line and the MACD line is about to intersect. The trend is likely to change soon.
According to the current price movement, the BCH price is about to violate the crucial resistance level at $373. However, if the Bitcoin Cash reverses the current trend, then it would find the immediate support level at $321.
Resistance and Support Levels
R1: $360 R2: $373 and R3: $399
S1: $321 S2: $295 and S3: $281