- Yenom developers are proposing a new protocol for the Bitcoin Cash ecosystem, for great improvements.
- BCH/USD downside pressure being minimized by a supporting ascending trend line, seen on 60-minute chart.
The Bitcoin Cash price was on the back foot on Tuesday. Trading firmly in negative territory, down over 2% in the session. Price pressures inline with the current general market tone. It was reported that the developers who were behind the creation of BCH wallet Yenom, are said to be readying a different payment protocol for the ecosystem of Bitcoin Cash.
A key developer at Yenom, Shun Usami, released a new protocol known as ‘Deep Link Payment Protocol (DLPP). This is said to facilitate user to pay on a varied websites with BCH, execution of that by clicking a specific link. They are working on this to improve the current experience for users, with regards to mobile wallets. Yenom developers were said to have proposed a new wallet scheme for the global Bitcoin Cash network.
BCH/USD is currently being supported by an ascending trend line, that was been in play since 18th September. This has come to the rescue, on the back of the consistent selling pressure, that has taken its tole on Bitcoin Cash and the rest of the market. Immediate support is eyed at $445, then demand is seen at $438. In terms of resistance, this is noteworthy at $450, and then further north, supply is seen at $465.
BCH/USD 60-minute chart
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