Key Highlights
The altcoin is consolidating between $280 and $300
Bitcoin Cash will reach a low of $258 if the selling pressure persists
Bitcoin Cash (BCH) Current Statistics
The current price: $281.57
Market Capitalization: $5,191,316,193
Trading Volume: $1,354,663,829
Major supply zones: $325, , $350,$375
Major demand zones: $200, $175, $150
Bitcoin Cash (BCH) Price Analysis December 8, 2020
Bitcoin Cash is in a downward move after facing rejection at levels $320 and $300. Besides, it has been consolidating in a tight range between $280 and $300. A breakdown or breakout is likely to occur if the crypto continues with the current consolidation. For example, the price is falling, and a break below the $280 support will compel BCH to fall. However, the sideways move will resume if the support holds. Meanwhile, BCH is trading at $281 at the time of writing.
Bitcoin Cash Technical Indicators Reading
The coin is below the 25% range of the daily stochastic. It indicates that the coin is in a bearish momentum. It appears the crypto is approaching the oversold region of the market. The price bars are below the SMAs which indicate a further downward movement of the coin.
Conclusion
The price is indicating a bearish signal of the coin. Also, the Fibonacci tool has indicated a downward movement of the coin. On December 1 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that BCH is likely to fall and reverse at level 1.272 Fibonacci extensions. That is a low of $257.51.
Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.