BCH/USD continues growing but momentum is fading. Binovo announced support for Bitcoin Cash, promoting its mass adoption. Bitcoin Cash (BCH) continued moving upwards and touched $589 on Thursday. While the price retraced to $556 by the time of writing, BCH is still trading with over 6% gains $553 day-on-day. Bitcoin Cash has a market value of $9.6B and an average daily trading volume $1B which twice as large as the mid-term average figures. What’s behind the move? The coin received strong support from the news that the New-York based cryptocurrency exchange Gemini might add BCH to the list of tradable instruments. Bitmain’s IPO story also added to the bulls’ optimism as the company is a large holder and a loyal supporter of Bitcoin Cash. Bitcoin Cash technical picture From the technical point of view, the first local support is seen at $534 (50% Fibo retracement for the downside movement from September 2 high). It is followed by psychological $500 handle, strengthened by 200SMA (4-hour chart). If BCH goes lower, the sell-off will continue towards the next targets at $484 and $461 (SMA50 and SMA100 respectively). On the upside, BCH/USD will need to climb above $570 handle to continue the upside towards $600. BCH/USD, 4-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next SEK expected to gather extra steam near term – Danske Bank FX Street 4 years BCH/USD continues growing but momentum is fading. Binovo announced support for Bitcoin Cash, promoting its mass adoption. Bitcoin Cash (BCH) continued moving upwards and touched $589 on Thursday. While the price retraced to $556 by the time of writing, BCH is still trading with over 6% gains $553 day-on-day. Bitcoin Cash has a market value of $9.6B and an average daily trading volume $1B which twice as large as the mid-term average figures. What's behind the move? The coin received strong support from the news that the New-York based cryptocurrency exchange Gemini might add BCH to the list of tradable… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
