BCH/USD has lost over 1% of its value in a matter of minutes. The recovery is capped by $225.60, while the critical support comes at $220.00 Bitcoin Cash (BCH) is the fifth largest digital asset with the current market value of $4.1 billion and an average daily trading volume of $1.11 billion. The coin hit the intraday high at $225.62 during early Asian hours and retreated to $223.16 by the time of writing. BCH lost over 1% in a matter of minutes as a failure to settle above the local resistance triggered stop orders. BCH/USD: Technical picture On the intraday chart, the local support is created by a combination of 1-jour SMA50 and SMA100 at $222.50. Once it is broken, the sell-off may be extended towards the intraday low of $220.79, reinforced by the lower line of the 1-hour Bollinger Band. The next support is created by the psychological barrier 220.00. Once it is out of the way, the downside is likely to gain traction with the next focus on $204.62 (the lowest level of June 27). BCH/USD 1-hour chart On the upside, BCH/USD recovery is capped by the above-said intraday high of $225.62. A sustainable move above this area will allow for an extended recovery towards 1-hour SMA200 at $228.50, followed by $230.00. The next resistance is created by $234.00 that stopped the upside momentum in the end of the previous week. The ultimate technical resistance comes at $238.00 (daily SMA100) and $239.00 (daily SMA50). BCH/USD daily 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 Brent Crude Oil to target the 200-DMA at $49.43 – Credit Suisse FX Street 2 years BCH/USD has lost over 1% of its value in a matter of minutes. The recovery is capped by $225.60, while the critical support comes at $220.00 Bitcoin Cash (BCH) is the fifth largest digital asset with the current market value of $4.1 billion and an average daily trading volume of $1.11 billion. The coin hit the intraday high at $225.62 during early Asian hours and retreated to $223.16 by the time of writing. BCH lost over 1% in a matter of minutes as a failure to settle above the local resistance triggered stop orders. BCH/USD: Technical picture On the intraday… 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.
