Bitcoin Cash (BCH) Price Analysis: BCH/USD Now Gaining Traction Again After Witnessing a Short Pullback Earlier This Week

Mirroring Bitcoin's movement, BCH is now gaining traction again after witnessing a short pullback earlier this week. The price currently appears strong

Bitcoin Cash (BCH) price analysis reveals a bullish recovery from lower support levels. After witnessing a massive sell-off and failing to sustain buying pressure at the $400 level last week, BCH price analysis reveals a bullish recovery from lower support levels.

As a result, the price dropped sharply and began to lose ground once more. However, things quickly turned positive as bulls stepped in to halt losses at $345 mid-week.

This interception triggered significant gains, and the price surged to $398 today. As the crypto prepares to break out of the crucial resistance that stalled buying during this month’s recovery, we can anticipate larger gains in the coming days.

Currently, the bears are left in disbelief at the latest price movement as they incur losses. Failure to reclaim the monthly low could result in a total loss of control.

BCH’s short-term bearish bias is fading away, and it might completely end with the latest bullish sentiment that has been surrounding the entire crypto industry since yesterday. Technically, the market has begun to pick up.

After bouncing nicely from a four-month low earlier this month, BCH price analysis reveals a bullish recovery from lower support levels. After bouncing nicely from a four-month low earlier this month, BCH faced tough resistance at the $400-mark level last week and failed to advance recovery due to a drop in the buying volume.

While this resistance became crucial for the bulls’ next move, the price dropped sharply this week and began to lose ground again. But things quickly turned out positive as the bulls intercepted losses at $345 in the mid-week.

This interception brought notable gains and the price surged to $398 today. As the crypto sets to break out of the crucial resistance that suppressed buying during this month’s recovery, we can expect bigger gains in the coming days.

Currently, the bears are in disbelief at the latest price movement as they suffer losses. Failure to retake the monthly low could lead to a total loss of control.

BCH’s short-term bearish bias is fading off and it may completely come to an end with the latest bullish sentiment surrounding the entire crypto industry since yesterday. Technically, the market has started to pick up.

A successful flip through the crucial $400 resistance level could activate a sudden surge to the $448 level before pulling back. The higher resistance level to consider for an increase would be $470.

The weekly pullback level of $344 currently stands as support. If the price falls below it, the next support for a test would be the monthly $288.4 low. $250 may surface as a new multi-month low if the price plummets.

BCH’s Key Levels To Watch

Key Resistance Levels: $400, $448, $490

Key Support Levels: $344, $288.4, $250

This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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