BCH Shows a 2.89% Intraday Hike; Resistance Seems Imminent at $271

Bitcoin Cash price is currently trading at $265.87, which is 2.89% above its previous stoppage of $258.38. However, the movement of the last 24 hours could not go without price fluctuations. With a certain degree of volatility, the BCH price movement pattern is likely to stay bullish in the coming days.

Bitcoin Cash Price Analysis

BCH coin stepped into the week at a value of around $258. Over the next 8 hours, the price reached up by 4.27% and added $11.04 to the value to touch $269.42. It was followed by a 2.66% fall that took Bitcoin Cash price $262.25 by 11:25 UTC. However, BCH was not meant to stop there. Between 11:25 UTC and the closing hour of the day, it managed a boom to the extent of 3.61% and traveled from $262.25 to $271.72, the highest in the last 24 hours. From there, the position has been moderately weakened. The current value is roaming around $265.87.

The market cap of BCH has witnessed a reversed position over the last 24 hours. Yesterday the market cap was 4.887 billion USD, and over the previous 24 hours, it has been shrunk to 4.863 billion USD.

BCH’s current value at 265.87 USD is lagging behind both its shorter span moving averages. As per the historical data and our analysis, the price is likely to rise in the coming days as the growth momentum seems not to be weakened anytime soon. However, investors should be aware of the high volatility that may happen in the next week. According to the updated Bitcoin Cash price prediction, the next resistance point is likely to come by $271.78.