- Bitcoin Cash price has reached the $251 mark
- BCH/USD crossed the $262 area on June 5
- At press time, BCH was trading at $255.02
Bitcoin Cash News Today – the overall market sentiment today is bearish. The bulls came for a short spell only days ago when Bitcoin climbed above $10k. However, since BTC lost its momentum and dropped back behind the $10k mark, every other digital asset has been in limbo. The bulk of them has corrected downwards. One of such tokens is Bitcoin Cash.
The price of Bitcoin Cash fell to the $251 level as of June 6. The virtual currency also traded above the $262 area at the start of the 24-hour trade. This action gradually took the coins’ price down on the daily chart. The BCH/USD trading pair managed to stay within a day’s range of $251.05 and $258.29. Let us see more about BCH over the last 7 days and 24-hours.
BCH/USD Crossed $262 on June 5
The BCH/USD trading pair managed to cross the $262 mark on June 5 over the last week. After this, it managed to move towards the $256 area as trading proceeded to the end of the 24-hour session. The digital asset was priced at $255.26 as the close of trade on June 5. A day later on June 6, the digital currency also traded between the $256 and $258 ranges until it saw a bearish action as trading approached the evening.
The price of Bitcoin Cash also fell to the $251 area at the end of the trading session that day. Today, June 7, the coin has continued with the same pattern it took days ago. As of when this content was written, the price of Bitcoin Cash was changing hands at $255.02 meaning nothing had changed in the coins price action.
What’s the Next Move for BCH?
According to one Trading view analyst, BCH price could drop further to the $249.83 mark today. The analyst known as QuanttraderX suggested that the crypto will move to the $249.83 mark. This will likely be its next sell stop at the end of the session today. As a long-term trade suggestion, the BCH/USD trading pair is predicted to fall to the $240.97 level eventually.
The digital currency seems to be moving to the sell stop that was mentioned in the prediction issued by the analyst. Another TradingView expert believes the trade is active, but not complete yet. The analyst MohamedMagdyfb has predicted that the digital currency will fall to the $200 mark. The analyst also says that the next place to follow will be the $180 target. These predictions are expected to happen in the next few days.