Bitcoin Cash Price: Investors Must Avoid These Levels To Prevent Losses
-
Loading... - Olivia Lehtinen
- 07 Oct 2022
- 53 Views
- 0 Like
- 0 Comment
Investors, who are keeping a close eye on Bitcoin Cash and want to avoid losses, should steer clear of these crucial price points.
As of this writing, Bitcoin is still showing a little bit of bullishness, despite losing a few digits from its price. BTC retreated below the $20K mark, and now trades at $19,998, according to data from Coingecko.
Short-term support for the bears came from rejection wicks at the $20.5k level. Even Bitcoin Cash, the fork of BTC, isn’t immune to this issue.
BCH is in such a jam, despite Bitcoin losing the $20k psychological support.
There have been recent reports regarding a number of developments with potentially profound implications for BCH. This report indicates that Bitcoin Cash’s transaction volume has been below the average of 27,734 daily transactions.
Lower transaction volumes are a negative indicator to both potential and existing investors for BCH, thus this could be an issue.
Bitcoin Cash: Formidable Wall For The Bulls
Bitcoin Cash’s value fell 35.50% between the July 29 rally and the September 19 low, before rebounding 17.40%. After that time, however, Bitcoin Cash’s price remains stable.
These days, you can buy Bitcoin Cash for as little as $96.559 and as much as $166.025. Furthermore, BCH has a support level at $112.246 and a resistance level at $125,912.
Although CCI and Stoch RSI readings are optimistic, the stated resistance level remains a formidable obstacle for BCH bulls to overcome. Read More...
