Bitcoin Cash (BCH) News

BCH Breached 9-Month High Just to Pullback Below $300

Bitcoin Cash slashed its position with Litecoin at the onset of the week, just when Litecoin went as high as $94 and escalated above with regard to its market cap against the former. Bitcoin Cash has been amongst the top 5 in the global crypto market until it slipped its position briefly but reclaimed in no time as the major altcoins lost a minimum of as much as 20% in 2 days. Although the BCH coin was breaching a 9-month high at $373, it took no time to collapse below $300 at $275.

Bitcoin Cash Price Analysis:

Bitcoin Cash News

Bitcoin Cash, at the time of penning down this analysis, was seen trading at $275 after a bearish candlewick pullback and is a pinch close to testing 50-day MA support at $261 followed by 200-day daily MA support at $251. With the gain in price, the price trend of BCH/USD is seen breaching the upper 20-day Bollinger Band on the daily chart after the coin’s price reclaimed a 9-month high. As the Bands widen, we project expanding volatility in the near-term.

Moreover, the MACD chart that was showing a clear bullish crossover until the recent fall is now moving towards having a bearish crossover as the MACD line approaches the signal line for a negative divergence after the price slash.

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Leo Bell

Leo Bell is a writer with more than a decade of experience working for major digital publishing firms. Before joining FinanceThrive, he covered business, entertainment and sports related news articles. Currently, he contributes news stories regarding business, economy, finance, banking, taxes and much more.

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