- Bitcoin Cash is down 1.3% since the beginning of Tuesday.
- ContText wallet service is now available in Brazil, Poland, Croatia, and Romania.
Bitcoin Cash, the fourth largest digital asset with market value $7.7B is one of the worst-performing coins on Tuesday. BCH/USD has lost over 1.3% since the start of the day to trade at $449.13 by press time.
What’s going on
A cryptocurrency wallet service CoinText.io now available in Brazil, Poland, Croatia, and Romania, which is a good news for Bitcoin Cash fans. context allows users to send Bitcoin Cash via blockchain-based SMS communication gateway. directly to phone numbers or BCH addresses. No internet connection needed, just text messaging service. The service supports old types of phones like flip phones and does not require to register with a cryptocurrency exchange and deal with keys and passphrases.
“Brazilians have been suffering from corruption and bad monetary policy. Cryptocurrency offers a way for them to peacefully opt out of a corrupt system,” says CoinText founder and CTO Vin Armani.
“Adding Poland, Croatia and Romania brings us closer to connecting the entire continent of Europe. CoinText’s end-of-year goal is to enable all 740 million European residents to text money to each other’s phones for pennies,” he added.
Bitcoin Cash technical picture
Looking technically, BCH/USD is supported by a short-term upside trendline at $448. a sustainable move lower will cloud the short-term horizon and expose the coin to further losses with the next bearish target at $440-437 congestion zone that includes October 18 low.
The recovery is capped by $450-$457 area with SMA50 and SMA200 (1-hour) clustered there. This hurdle needs to be taken out to clear the way towards psychological $500 and $525 (October 15 spike high).
BCH/USD, the daily chart
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