On the 4th of July, the Bitcoin Cash price line rose past the $226 mark, however, unable to maintain the position at the time of writing. Alexander Harford, the crypto analyst, is of the opinion that the BCH price will show no significant changes in the coin’s price.
1-Day Bitcoin Cash price analysis (4th July)
At the beginning of the 4th of July, the cryptocurrency traded near the $221 level, and after 16:43 GMT, the price line shot across the $226 mark. However, the cryptocurrency was unable to maintain the position and at the time of writing, Bitcoin Cash was priced at $221.39 US Dollars.
What’s next for Bitcoin Cash price?
Alexander Harford is a TradingView analyst who has discussed the expected movement for BCH price in the near future.
Bitcoin Cash price chart by Trading View
On the 4H chart for the BCHUSD trading pair, the analyst highlighted that the cryptocurrency met a resistance level at the $243 mark on the 23rd of June, after which it fell towards the $209 mark. The cryptocurrency recovered across the $220 level and began trading on the support level at the $220.9 mark after the 28th of June. The local resistance lies at the $225 level, and Bitcoin Cash has been trading between the local support and the local resistance levels for the past week.
The technical analysis for the BCHUSD trading pair shows that the price is ranging at the support line and both of the Exponential Moving Averages and the Bolinger Bands indicate no significant variations in the price of the cryptocurrency. For now, Bitcoin Cash is expected to show no price changes.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.