Bitcoin Cash Price Watch – BCH/USD Sinks Further, Hits …

Bitcoin Cash Price WatchBitcoin Cash Price Watch

Key Highlights:

  • Bitcoin Cash declined serve on Wednesday, descending to a three-month low of $800.

  • BCH/USD has since bounced back to the $820-$830 cost range.

  • The cryptocurrency is on a vital bearish run, substantiating a vital support at $820.

Bitcoin Cash Sinks Further, Reaches Three-Month Low

On Wednesday, Bitcoin Cash continued the decrease from progressing this week, even attack a three-month low of $800 for a brief moment. BCH/USD has since bounced back, now trade in the $820-$830 cost range. The cryptocurrency marketplace is strongly bearish right now, and offered vigour has wiped off most of the gains from the end of 2017.

Bitcoin Cash is now on a vital bearish run. It has determined a vital support at $820 and a vital insurgency at $855. Despite the discerning pullback off the three-month low, BCH/USD could see serve downside movement after in the day on the bearish momentum. There is a miss of catalysts to send Bitcoin Cash back to the insurgency and retreat the stream trend.

On the upside, Bitcoin Cash contingency overcome the insurgency to go serve up to the subsequent vicious turn at $875. An proceed toward $1,000 once again is doubtful in the brief term. On the downside, a mangle next the $820 support would hint another bearish trend that might pull BCH/USD down to $800.

Source: Tradingview

As for the technicals, the MACD indicator is promulgation a short-term bullish vigilance for Bitcoin Cash price. The RSI indicator shows Bitcoin Cash is in overbought territory. Trading volume has gradually increased, but the shopping vigour is not high enough to means a vital correction.

Looking at the Technical Indicators:

  • Hourly MACD — Bullish signal

  • Hourly RSI — Bitcoin Cash is in overbought territory

  • Major Resistance Level — $855

  • Major Support Level — $820

Featured Image: Depositphotos/© leungchopan

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Article source: https://cryptocurrencynews.com/bitcoin-cash-price-watch-06-13-18