Bitcoin Cash (BCH) Price Prediction: BCH/USD Falls 3.76% to $346.46
- PHPzOriginal
- 2024-08-27 06:15:23352browse
Over the past 24 hours, Bitcoin Cash's BCH/USD price has fallen 3.76% to $346.46. This is opposite to its positive trend over the past week
Cryptocurrency price movements over the past 24 hours have been largely mixed, with some coins experiencing gains while others faced declines.
Bitcoin Cash (BCH) price fell 3.76% over the past 24 hours to $346.46 at the time of writing. This comes as the coin’s price rose 3.0% over the past week, moving from $336.39 to its current price.
The chart below compares the price movement and volatility for Bitcoin Cash over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
Bitcoin Cash price fell sharply over the past day, dropping to an intraday low of $343.88 before recovering slightly. The coin’s price now faces immediate resistance at the 23.6% Fibonacci retracement level, which is currently around $354.6. If the coin’s price fails to clear this level, it could continue to experience some selling pressure. However, a breakout above this level could lead to further gains for BCH.
On the weekly timeframe, Bitcoin Cash price experienced a strong rally, rising to a high of $349.1 before pulling back. The coin’s price found support at the 50% Fibonacci retracement level, which is currently around $340. If the coin’s price manages to hold above this level, it could continue to experience some buying pressure. However, a breakdown below this level could lead to further losses for BCH.
Overall, Bitcoin Cash price experienced some selling pressure over the past 24 hours, leading to a decline from intraday highs. However, the coin’s price recovered slightly and now faces immediate resistance at the 23.6% Fibonacci retracement level. If the coin’s price fails to clear this level, it could continue to experience some selling pressure. However, a breakout above this level could lead to further gains for BCH.
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