Bitcoin Cash (BCH) Price Prediction: BCH/USD Hovers Above $320, Can Bulls Break the Resistance?

Bitcoin Cash's BCH/USD price has increased 6.25% over the past 24 hours to $320.66, which is in the opposite direction of its trend over the past week

Bitcoin Cash (CRYPTO: BCH) price rose 6.25% over the last 24 hours to $320.66. This is in contrast to a 0.0% loss over the last week, moving from $321.76 to its current price.

Bitcoin Cash's price range over the last 24 hours is shown below. Price movements are compared to the coin's rolling 24 hour trading volume, which is shown in the chart's lower section.

Christopher VanLang, a professor at Scripps Research Institute, said that despite the recent rebound, cryptocurrencies are still far from out of the woods.

“Cryptocurrency markets have seen modest gains over the past 24 hours, with some major coins recording modest gains. However, despite the brief upward momentum, cryptocurrencies still face a number of challenges, including regulatory uncertainty and declining institutional interest.

The coin's price encountered resistance near the $323.86 mark and fell to a low of $314.17 before beginning to rise again. The coin's 24 hour trading volume reached $320,656,000, which is down significantly from the $481,700,000 trading volume reported a day ago.

Price movements for the coin over the last week are shown in the chart below. Price ranges are compared to the coin's rolling seven day trading volume, which is shown in the chart's lower section.

Bitcoin Cash's price encountered resistance near the $323.08 mark and fell to a low of $318.23 before beginning to rise again. The coin's seven day trading volume reached $1,975,833,000, which is down substantially from the $2,490,000,000 trading volume reported a week ago.

Bitcoin Cash is down 91.46% from its all-time high of $3,785.82.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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