Materials by tag Bitcoin Cash

Bitcoin Cash in its last downward push dropped to a low of $141 on March 12. Immediately, the bulls buy from the low to push the coin to the previous highs. More so, in the last breakdown, the BCH fell to the oversold region at $141. Interestingly, buyers have emerged to push BCH upward.

Bitcoin Cash is trading at $184 after the last breakdown. The breakdown was caused as a result of the bull’s failure to break above $340 resistance. The selling pressure extended to $260 and subsequently to the low of $140. The bulls and bears tussle at the low of $140 as there was buying at lower levels.

The bulls made positive moves but could not sustain the price above the $340 resistance. This attracted aggressive selling as the price fell to the low above $260 on March 9.

Bitcoin Cash has a breakdown as it falls from a high of $350 to a low of $250 on March 7. The market has remained in consolidation since after the breakdown. All the positive moves to breach the breakout level of $360 were dashed. The downtrend has broken important support levels like $306 and $270.

Bitcoin Cash is in an uptrend as the bulls attempt to breach the breakout level of $360. The bears have unceasingly defended the $360 resistance during the downtrend. Nonetheless, the downward correction is over as the bulls emerge from the oversold region of the market. During the downward correction, BCH fell to $300 low but move up to consolidates above $320.

Last week, Bitcoin Cash survived further selling below $300 because the market had earlier slumped into the oversold region. By default, buyers are expected to emerge in the oversold region to push BCH upward. Positively, if the price is above $360 and the momentum is sustained, BCH will be back to its uptrend.