Bitcoin Cash Prices Continue to Fall, Needs to Bounce Back Soon

Let us compare the price of the BCH coin since the beginning of this month. Bitcoin Cash price is trading at $330.9 on 1-Aug-19 at 17:30 UTC. Since then, the coin gradually started to reflect an upward trend. There were a couple of falls in between 8-Aug-19 and 10-Aug-19, and the Bitcoin Cash was able to maintain its efficiency and managed to reach $355.7 on 14-Aug-19. However, the coin has witnessed two sharp falls since the said date and BCH price fell to $283.2. Despite the rise in price from 15-Aug-19 when it fell to $283, the coin has not been able to change the dominance of the bears and at present is valued at $275.7.

Price Comparison of BCH to USD is herewith given below:

Bitcoin Cash price comparison since the time it reached to $355.7 on 14-Aug-19 at 02:00 UTC and price of today, the coin indicates a bearish run by 22.7%.

We anticipate that considering BCH’s past track record, the coin should be able to gain back its efficiency levels and slowly start to rise upwards. It may reach close to $280 by tomorrow. After several days, it may be traded close to $292 as per calculated resistance levels.

MACD indicator also confirms that Bitcoin Cash is at present, moving downwards. The present scenario can change by tomorrow if the coin is able to gain back its pace and maintain its performance. The coin may be circulated today in the range of $275.19 and $281.15.