Bitcoin Cash Breaches $220 Mark After Overnight Push of 8.58%
Bitcoin Cash has been able to go above $220 price mark the recent volatile phase. The price has been ballooned up by 8.58% in the last 24 hours, and this trend is likely to continue for some more days.
Bitcoin Cash Price Analysis
The price of Bitcoin Cash was at $205.72 in the initial hours of March 30. By 11:35 UTC, it gathered momentum and added $13.21 in the value to get to $218.93. After that, the BCH coin continued to trade with upside momentum and marked another swing that happened between 13:59 and 21:13 UTC. In these 7 hours and 14 minutes, the coin added another 5.30% value and touched the highest point of the day at $226.85. However, towards the ending of the day, the BCH price value started dwindling. By 00:02 UTC today, Bitcoin Cash price faced a moderate price drop and lost $6.43.
The currency is currently being traded above its short-term daily MAs with a marginal difference. Its current RSI figure stands around 56.40 points, and it hints at gradually increasing investors’ demand for BCH coin. As per the technicals, if the price of Bitcoin Cash continues to trade upwards, it may test the next resistance around $228. And if it reverses the trend, the price may find the next support around $218.