Bitcoin Cash Managed to Hold Its Price Above Key Support $206
Bitcoin Cash (BCH) continues to face the bear radar with great gusto over the past week. The past one-day price trend has seen the price fluctuating heavily due to heavy volatility. The price of BCH coin was seen trading in the range between $205 – $217.
Bitcoin Cash Analysis
Over the last 3 days, the BCH coin traded under the bearish impact. Yesterday, the currency started dealing on a high note at $217.52 at 00:23 UTC. Then, it faced a steep fall, and the price dropped to $210.62 at 06:14 UTC, the downslide being at 3.17%. Later, it continued downward correction and touched below $207, but then, Bitcoin Cash price marked a sharp upward move, and at 10:56 UTC, the coin had a recovery, and the price touched $214.09. However, from this high, the currency again started trading downwards and fell to $208.62 by 2.49%. BCH coin fought back, and the price again went on an upward rally and reached a high of $211.25 at 17:55 UTC.
Towards the closing hours, with mounting bear pressure, the price of Bitcoin Cash again went down to $205.99. Though the currency traded under strong bearish pressure, it holds its ground around $206.
Today, BCH coin begun the day on a positive note. The currency reflected strong recovery, and the price touched $211.28. Analysts expect Bitcoin Cash price to continue to reflect recovery though the coin is currently trading under the bearish influence. In the upcoming hours, it might breach a $220 price mark.