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June 24, 2023
Bitcoin Cash reached $184.09, breaking a 1 year record. Later, it lost $1.44 and is now trading at $182.65.
Trend and momentum analysis indicates that investors are seeking long positions as Bitcoin Cash price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to momentum evaluation, the Relative Strength Index indicates BCH is in a strong overbought condition. According to asset volatility analysis, BCH's upper Bollinger Band® is at $176.94, this is a slight indication of a slowdown. As the day gets underway, chart analysis suggests the nearest resistance level is at $205.23; if BCH breaks through, the next level is at $225.89. Support levels are at $148.92 and followed by $113.27 further down.
Notwithstanding Bitcoin Cash's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Other markets are also showing gains as FTX Token is up 9.54%.
Meanwhile, EOS closed at $0.726 (down 1.21%). Ripple slides down 0.83% to trade around $0.492.
Over the past 2 days, BCH has retreated 2.14% from a noteworthy peak of $185.1. BCH has a market cap of 3.55 billion with an average daily volume of 160.35 million.
