Dear Readers,
Through this article we would be discussing about the technicals of the Bitcoin Cash Crypto Coin- BCH.
Bitcoin Cash ( Token Name- BCH) is a cryptocurrency that is a fork of Bitcoin. Bitcoin Cash is a spin-off or altcoin that was created in 2017. In November 2018, Bitcoin Cash split further into two cryptocurrencies: Bitcoin Cash and Bitcoin SV.
The major differences between Bitcoin and Bitcoin Cash are the parameters of speed, security and cost. Bitcoin transactions will move more slowly because of its stricter rules around validation and their transaction fees ( gas fee) are higher. Compared to Bitcoin-BTC, Bitcoin Cash- BCH transactions are faster and cost much less.
The traders and investors are confident when the Bitcoin Cash has moved above its 200 EMA around 138 in the last week. With much uncertainty over its price, the investors gained much confidence and there BCH witnessed a heavy buying volume from the investors once the price crossed 200 EMA. The market cap of BCH has also crossed 2.6 billion USD.
According to the coinmarketcap website, BCH currently trades at $ 136.86, with a low of 0.46% from yesterday. The 7 days high for BCH was recorded at USD 142.76 while the low was recorded at 128.47. The All Time High of BCH was recorded at USD 4355.62 on December 20, 2017 while the All Time Low was recorded at 75.08 USD on December 15, 2018. BCH now trading at a lower of 96.86% from its ATH and a high of 82.42% from its ATL.
The RSI indicator shows that the BCH coin trades positively in the overbought zones. The MACD indicator also confirms the possible bull rally from a positive breaching at these levels. From a support perspective, the immediate support for Bitcoin Cash is at $ 129, if it breaks the major and long term support is at $95 in case of a drawdown or profit booking from current levels.
With the charts, the resistances for BCH are at $ 145 and $ 160.
Check whether BCH trades above the $ 140 level with greater volumes which would help BCH would further hike to $ 200.
