Bitcoin Cash Sees Renewed Interest Amid Price Volatility and Social Engagement Surge
Over the past 24 to 72 hours, Bitcoin Cash ( BCH ) has experienced significant price fluctuations . Currently trading around $323, BCH has seen a recent drop of over 4% in the past 24 hours due to market-wide bearish sentiment. This follows a broader decline, where the cryptocurrency fell 8% from $348 in just a week​( InsideBitcoins.com )​( Benzinga ).
Technical Analysis
Bitcoin Cash is encountering resistance at the $325-$360 range, with technical indicators suggesting a potential breakout if BCH can breach these levels. The next key resistance points are at $360 and $400, which, if crossed, could initiate a bullish rally. On the downside, BCH is testing support at around $311, with critical levels at $240 and $200​( InsideBitcoins.com ).
While the overall trend remains bearish, some technical patterns, such as a long-term falling wedge, indicate that BCH could be primed for a breakout if buying pressure increases​( MarketBeat ).
Read More: https://onthenode.com/cryptocurrency/bitcoin-cash-sees-renewed-interest-amid-price-volatility-and-social-engagement-surge
Over the past 24 to 72 hours, Bitcoin Cash ( BCH ) has experienced significant price fluctuations . Currently trading around $323, BCH has seen a recent drop of over 4% in the past 24 hours due to market-wide bearish sentiment. This follows a broader decline, where the cryptocurrency fell 8% from $348 in just a week​( InsideBitcoins.com )​( Benzinga ).
Technical Analysis
Bitcoin Cash is encountering resistance at the $325-$360 range, with technical indicators suggesting a potential breakout if BCH can breach these levels. The next key resistance points are at $360 and $400, which, if crossed, could initiate a bullish rally. On the downside, BCH is testing support at around $311, with critical levels at $240 and $200​( InsideBitcoins.com ).
While the overall trend remains bearish, some technical patterns, such as a long-term falling wedge, indicate that BCH could be primed for a breakout if buying pressure increases​( MarketBeat ).
Read More: https://onthenode.com/cryptocurrency/bitcoin-cash-sees-renewed-interest-amid-price-volatility-and-social-engagement-surge
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