Bitcoin Cash Records Almost 4% Value Overnight
- Bitcoin Cash has recorded strong recovery overnight, and its value has gone beyond $230 price mark
- BCH coin may face hurdles around the next resistance point $235
After days of struggling around $225, Bitcoin Cash has finally gone above $230 mark. Over the last 24 hours, it has been up by 3.91%, and this positive momentum may remain intact in the upcoming days.
Bitcoin Cash Price Analysis
If we look at the weekly price trend of BCH coin, it marked a regressive price trend, and even it hit $201 on March 23. Then, it started price recovery and show positive momentum, and on the next day, Bitcoin Cash recorded a massive hike and reached $226. After hitting this price point, the coin continued to trade moderately.
Yesterday, BCH coin started dealing around $222, and over the next 13 hours, it faced a pullback pressure, and its value got confined to $220. Then, it was followed by a 6.50% hike that added $14.30 in the value and took the price of Bitcoin Cash to $234.39 by 00:26 UTC today. After this hike, the currency faced marginal fall, but it holds its ground above $231.
Currently, BCH coin holds support from its daily SMA lines, namely, 20 days MA & 50 days MA. Its RSI figure stands around 54.94 points, and it has been showing a gradual increase over the days. Bitcoin Cash may soon touch the next resistance point around $235.