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NewsBTC 2022-08-29 11:33:18

Bitcoin Cash Loses 10% In Last 24 Hours, Despite 40% Hike In Trading Volume

Bitcoin Cash had shed 24% of its value in the previous 12 days. Leading coins like Bitcoin (BTC) and Ethereum (ETH) have also experienced double-digit losses over the past 26 days as a result of the broader market slump. BCH support present at $113.2 Bitcoin Cash key resistance spotted at $117.44 BCH price currently trades at $115.65 Bitcoin Cash has already shed 10% of its value in the last 24 hours. This, despite enjoying 40% increase In trading volume in the last 30 days. Since the start of the month, the total market capitalization of cryptocurrencies has decreased by nearly 5%. The broader market slump has had an effect on Bitcoin Cash (BTC), which has a strong positive correlation with BTC. More so, BCH increased by 40% in value over the past 30 days, trading at $145.92 as of August 15. The assessments of BCH’s price changes on a daily chart also did not provide optimistic information. Investors have steadily dropped their BCH holdings since August 19. Meanwhile, Relative Strength Index (RSI), Money Flow Index (MFI), and Chaikin Monkey Flow (CMF) were all pushed below their respective neutral zones by the increase in coin distribution. Related Reading: Flow Monitoring: Why This Price FLOW May Not Attract Short-Term Traders Bitcoin Cash Price Trading At $115.65 According to CoinMarketCap, Bitcoin Cash price is trading at $115.65 or up by 0.05% as of press time. The RSI was seen at 40 as per the time of writing. The ...

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