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Bitcoin Cash’s price has leaped up after hitting a support level of $183. This has seen the token resume trading above the $200 mark. Also, it’s looking likely that more upside traction may be gathered in this market.
BCH Statistics:
Bitcoin Cash Value Now: $203
BCH Market Cap: $3,949,826,907
Bitcoin Cash Circulating Supply: 19,502,463 BCH
BCH Total Supply: 21,000,000 BCH
Bitcoin Cash CoinMarketCap Ranking: 18
Major Price Levels:
Top: $203, $210, and $215
Base: $200, $190, and $180
Bitcoin Cash Eyes the $210 Mark From Support at the 61.80 Fibonacci Retracement Level
Bitcoin Cash prices have moved upward by 10.45% in today’s trading session. However, this occurred when the token tested support in the $183 price region. It seems buyers have regrouped at that mark, as prices bounced sharply upwards from this mark. The Relative Strength Index (RSI) lines can be seen displaying a rather sharp upside correction in the oversold region.
Additionally, the ongoing session seems to have placed the token above the Smooth Moving Average (SMA) lines. The two indications coming from technical indicators are foretelling that prices may still advance in their upside direction.
BCH Maintains Upside Correction Towards the $210 Mark
The BCHUSDT 4-hour market continues to hint that buyers aren’t ready to back down at this point. The newly commenced session shows that buyers are already testing the price resistance mark at $210.
The last price candle can be seen to have a longer upper shadow that appears to have pierced through the above-mentioned mark already. Simultaneously, the RSI lines have resumed running into the overbought zone. However, at this point, these lines seem to have narrowed but have an upside bearing, pointing out that more upside ground may be covered towards the $220 mark.
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