Bitcoin Cash (BCH) Tries to Hold a Stable Outlook After Hefty Price Loss

Bitcoin Cash (BCH) News
  • Bitcoin Cash exhibits flattish recovery; it is still vulnerable to volatility

After a bullish and positive week, the market saw a rough, harsh, and turbulent spell yesterday. At this moment, the recovery doesn’t seem any close as the market is still yearning for a strong upward momentum.

Bitcoin Cash, resonating with the same sentiment, is looking for a strong support level to start a notable recovery of its valuation.

  • The currency has formed a minor dip today below $228; yesterday’s price decline took the price below $225

It is today when the BCH coin has seen yet another price plunge below $230. Yesterday’s blow was the stronger one where it went even below $225. Price levels below $224 have acted as a support level. A minimal rebound took place there but, the recovery doesn’t seem to be stimulant enough for now.

Bitcoin Cash (BCH) Price News
BCH/USD Chart By TradingView

However, in recent hours, Bitcoin Cash has attempted a few upward moving candles. These have crossed the 50-day moving average. Considering the current market scenario, the coin must be still vulnerable to volatility.

  • The technical indicators here are giving mixed signs

The MACD indicator is in the bullish zone while the moving averages are in the negative zone. The short-term SMA line is below the longer one. The BCH price is way below the 200-day EMA here.