BCH’s Little Steps May Not Suffice to Recover from the Recent Price Decline

Bitcoin Cash (BCH) price has been down by 19.39% over the last three months, and the value has now fallen to as low as 224 USD from 278 USD. It has witnessed four major price variations in the range between 333 USD and 192 USD.

Bitcoin Cash Price Analysis

BCH price was being traded at 278.92 USD on August 31, and over the next 18 days, it got a hike of 19.72% that added 55.01 USD and pushed the value to 333.93 USD, the highest in the last three months. It was followed by freefall of 38.42%, and it cost the coin a whopping 38.42%, and it pushed the Bitcoin Cash price to 205.12 USD by September 23. The next variation happened between September 23 and November 06. In these 13 days, the BCH coin got increased by 50.26%, and it could scale the value to 308.21 USD.  From there, the Bitcoin Cash value has been weakened and reached 192.48 USD by 37.55% slump. However, since the last five days, the currency has been witnessing a marginal rise.

Bitcoin Cash has shown a huge decline in market cap as well. On August 31, the market cap was 5.032 billion USD, and it has now fallen to 4.105 billion USD.

BCH coin’s 200 days MA is now at 213.52 USD, and the 50 days average stands at 221.48 USD. The current price of Bitcoin Cash at 224.83 USD is 1.51% and 5.29% more than the 50 days and 200 days moving averages, respectively. It shows that the BCH coin is on an upward movement, and the coming few days are going to be bullish. The next resistance is likely to be there around 227.52 USD. Get a complete idea about Bitcoin Cash forecast clicking here.