- The Bitcoin Cash price analysis is bullish.
- BCH/USD is now retesting the previous day’s high.
- BCH breaks below $496 but bounces back
Today’s Bitcoin Cash price is bullish, as the market has retraced yesterday’s gains and established another higher low. As a result, when BCH/USD rises again, we anticipate it will surpass $680.
BCH/USD has dropped to around $400 today, following a huge plunge yesterday afternoon, which saw the price plummet from the $495 high. Although there was little market activity.
After an upswing and a downswing, the market traded in a crimson zone on most days. Bitcoin and Ethereum lost 6.79% and 6.29%, respectively. XRP, ADA, Binance Coin, and SOL were among the cryptocurrencies that incurred losses.
Bitcoin Cash price movement in the last 24 hours: Bitcoin Cash sets another higher low
Over the previous 24 hours, Bitcoin cash prices fluctuated in a range of $496 to $520, suggesting little movement. Trading volume is $6.73 billion, up by 8.89 percent from yesterday. Meanwhile, the market capitalization stands at roughly $10 billion.
BCH/USD 4-hour chart: BCH set to break $600 again?
We can see increasing momentum as bulls consolidate their position to surge and establish new highs in the next 24 hours on the Bitcoin cash price analysis page.
The price of Bitcoin Cash has been moving sideways for the past several weeks as it attempts to breach the $680–$700 zone. After resistance at $690 was broken in the middle of August, a few-week consolidation followed.
The price of Bitcoin Cash plummeted from its high of $1,145 on August 10th to its low of $780 on August 16th. When this cryptocurrency’s support was re-tested at $680 on August 18th, it established a new low twice before breaking out of the lower resistance level on August 31st.
Since then, BCH/USD has been retracing toward the previous local swing high and finding support above it. earlier today, there was some bullish movement, suggesting that bulls may try to push the market higher once again early next week.
On the BCH price analysis page, we see that the market is expected to encounter resistance at $650 in the next several hours. A breakout above this level would suggest another attempt by Bitcoin Cash to establish a new high.
Bitcoin Cash Price Analysis: Conclusion
The Bitcoin Cash price is presently up, as a new higher low was established overnight after a sluggish retracement from $650 resistance. We expect BCH/USD to rise above this level early next week if the bulls continue on their current path.
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