- The Bitcoin Cash price was seen up just shy of 1% on Thursday, after receiving an attack from market bears late in the previous session.
- BCH/USD has been caught by another trend line coming from 14th August lows.
The Bitcoin Cash price was seen holding on to very modest gains just shy of 1% on Thursday, after taking a beating from the market bears on Wednesday. The move was seemingly led by Bitcoin, which had dropped some 4% in just 30-minutes, before stabilizing.
BCH/USD was initially heading for a close in the green on the weekly, however given the selling pressure seen yesterday, this is somewhat looking slim now. Bitcoin Cash is currently heading for its fourth consecutive week in the red.
Technically, BCH/USD has been supported from crashing back south by several ascending trend lines, running from the lows on 14th August. The bulls have battled hard trying to retain the price above the psychological $500 mark. Near-term latest ascending trend line support is tracking at $514, a firm breach could see a fall down to retest 14th August lows at $470.1.
BCH/USD 60-minute chart
Share
