Bitcoin Cash [BCH] exhibits gradual decline, bear trend continues
Bitcoin Cash [BCH] prices are exhibiting a gradual decline as bears continue to push down BCH prices. On Friday the cryptocurrency witnessed a significant hike in prices which caused it to trade around $129. However, the prices went downhill over the weekend and began trading around $121. The cryptocurrency is facing a negative investor sentiment and is exchanging hands in red.
The crypto asset has already broken out of two support levels formed today. The cryptocurrency seems to be targetting the next support level is found at $120. The significant trading range for today is from $121 to $126. The downward trajectory of the coin will continue until the crypto trades in the bearish zone.
The MACD levels are showing bearish momentum for the coin. The hourly RSI represents that the crypto is witnessing increased selling in the market. The 100 EMA line trading at $121.81 is indicating a downtrend. At the time of writing, BCH is exchanging hands at $121.9 and is losing against USD by 0.26%.
The digital asset is losing against Bitcoin [BTC] by 0.22%. At press time, one BCH is equivalent to around 0.034 BTC.
Bitcoin Cash Latest Updates
- BCH lost its 5th rank in the crypto market following Litecoin soaring by 30% and replacing EOS to become the fourth largest cryptocurrency by market cap. BCH fell to the 6th spot on Friday and is still number 6 in the crypto market as Litecoin refused to budge for the fourth day.
- Recently, Wikipedia started accepting Bitcoin Cash donations via Bitpay. The new partnership enables users to support the website that manages Wikipedia and many other free knowledge projects.
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