BCH’s price kept trading with a positive approach today till now. The 5-day chart exhibits a zig-zag pattern proving the presence of volatile factors.
- Over the last five days, the BCH price has sharply dropped following a rise to $266
Bitcoin Cash had opened way below $260 around five days ago. The recent price decline of the coin took the price even below its key support levels. A few dips took place even below $240 here, according to the chart. The price drop was as hefty as 10.15%, and despite a partial recovery, the BCH price is below the 50% fib level.
- Bitcoin Cash has been trying to recover the fall by rising to $251; A complete recovery is a few steps away
The ongoing recovery has taken the coin firmly above $250. However, stability is still a little away from the coin. BCH price is a bit above the 38.20% fib level while it is trading much below the 1-week high price. At the moment, the coin is busy recovering its loss of valuation while it holds support levels around $240.
- Technicals are too bullish to believe; BCH is still in the red zone while recovering gradually
Bitcoin Cash is heading towards the EMA line with a bearish bias here, and it may soon slip below the same if it doesn’t take any bullish turn around. Meanwhile, MACD and RSI are in the positive zone.