Home Technical Analysis Bitcoin Cash Price Analysis: Bitcoin Cash (BCH) reaches $349.06, next support level...

Bitcoin Cash Price Analysis: Bitcoin Cash (BCH) reaches $349.06, next support level to watch out for would be $361

BCH coin has shown very good growth and performance over the past several days. The bulls seemed to dominate the coin, but it saw a fall on 4-July-19 wherein prices reached $388.38. Considering the huge potential of Bitcoin Cash, it did manage to make a comeback and reached as high as $424.71 on 9-July-19 as per 06:00 UTC. From 5-July-19 till 9-July-19, the coin managed to show growth of more than 9%. The coin was performing well, but it saw another setback and price fell drastically down to $321.64 today at 03:45 UTC. However, the bearish run seems to end now with BCH showing positive signs and an upward movement. We anticipate that Bitcoin Cash will continue to rise by the end of the day without any major setback.

Let us look at how BCH coin has performed:

BCH Chart

 

Current Statistics of BCH:

  • As per 06:44 UTC today, Market Cap of the coin was 6,082,779,922 USD.
  • BCH Price is trading at 349.06 USD
  • 24-hour volume is 2,318,648,698 USD
  • 17,885,175 BCH coins are at present in circulation.
  • ROI stands at -38.71%

Bitcoin Cash Price Prediction:

If we compare the price since 5-July-19 wherein price was at $388.38 at 06:45 UTC and today, the present movement of the coin indicates a downward run by 10%. By tomorrow, price of Bitcoin Cash might change to the level of $360, this is the basis on the past data and calculated resistance & support levels of the coin, which are $375 and $415, respectively. After a timeframe of 6 months, the coin will grow leaps and bounds and can reach up to $550.

Conclusion:

Chaikin Money flow indicator reflects that the coin has been in bearish trend yesterday and today, the movement seems to be near the neutral. By tomorrow, BCH may pick up further momentum and continue to shine like earlier.

Robert Hill
Robert a Crypto writer and an expert in delivering content with both informative and entertaining approaches. He has 4 years of experience working as a crypto writer with our team. You can interact with him by email: robert@forexnews.world.

Must Read

Buterin Reveals How He Burned Almost $7B Worth of Shiba Inu (SHIB)

Vitalik Buterin, a Co-Founder of Ethereum, spoke to the UpOnly podcast. He admitted to burning Shiba Inu tokens worth $7 billion. Vitalik Buterin burned...

Microstrategy CEO Won’t Sell $5 Billion in BTC Despite Crypto Winter

Despite the fact that the value of Bitcoin (BTC) has dropped by 40%, MicroStrategy's Michael Saylor has no plans to sell his $5 billion...

Ethereum Has One Obstacle to Fresh Highs, According to On-Chain Data

Ethereum is undoubtedly a big name in decentralized finance with a volume cap of nearly 400 billion dollars. The coin entered 2022 with the...

How to Buy Vechain and How It Works?: Beginner’s Guide

What Is Vechain? VeChain is a blockchain for businesses that aims to build "a trust-free and distributed business environment to enable transparent information flow, efficient...

Nevermind The Ripple Lawsuit: Digivault Becomes First Accredited Custodian To Support XRP

The year 2021 can barely be described for Cryptocurrency in words. The value undoubtedly increased compared to the previous three years, but it ended...