- Earlier in the session, cryptocurrency majors crash lower only to recover soon after.
- Bitcoin Cash reached a low of 192.10 and now trades 4.71% higher.
Bitcoin Cash Daily Chart
Bitcoin Cash as retaken the 200.00 level after crashing to a new 7-month low price of 192.10.
Printing below a major support level is obviously bearish but it remains to be seen if the price will close the day under the psychological support.
As you can see from the chart below the BCH price has been making lower lows and lower highs since late June.
For a move higher to be confirmed, I would look for a break of the trendline and the 240.00 resistance zone.
But for now, let’s see if the bulls can keep the price above 200.00.
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