- Bitcoin Cash has gained over 4% on a day-over-day basis and returned to top-5.
- Roger Ver announces a series of partnership deals.
Bitcoin Cash is back in top-5 largest digital coins. The market value of the asset reached $2.6B; thus BCH surpassed a stable coin Tether. BCH/USD is currently trading at $116.5, gaining over 4% on a day-over-day basis.
BCH/USD tested 104.87 on Monday; however, a global recovery on the cryptocurrency market helped to push it back above critical $110.00 and $115.00. The price tested $119.60 on Wednesday; however, $120.00 remains unconquered.
Meanwhile, Bitcoin is still 225% down since the beginning of the year and over 92% lower than at the end of January 2017.
Also, Bitcoin Cash entered partnership deal with Alliance Cargo Direct, a company within the Japanese ANA Group. Rodger Ver confirmed the agreement. While he personally participated in the process, he refused to reveal the details due to “internal commercial orders.”
Ver also added that several companies are on the way to launch Bitcoin Cash payments; however, the information is not publicly available as of yet. He emphasized that the deals are concluded exclusively with Bitcoin Cash.
This announcement might have created an additional bullish momentum for the coin.
Bitcoin Cash technical picture
Looking technically, BCH/USD has returned to the previous range with the lower border at $115.50 now serving as the local support. A move below this level will switch the coin into the bearish mode again with the nets focus on $110.00. On the upside, psychological $120.00 is followed by SMA50 (4-hour) at $121.25 and SMA100 4-hour at $124.
BCH/USD. 4-hour chart
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