The bears in the market seem to very strong, as the bulls are nowhere to be found. A lot of digital currencies are deep in the red, and some of them are not showing any signs of recovering. Bitcoin Cash BCH is also affected by the bearish waves in the market, and the coin has been experiencing a decrease in its value.
The digital currency failed to recover over the $720 mark. The value of the coin is heading south, and it may resume its downward movement for more losses below the $700 mark.
Bitcoin Cash Price Today: Current Price of BCH
At the time of writing, Bitcoin Cash (BCH) is trading at $702 after an increase of 0.19 percent in the last twenty-four hours. The digital currency has a market cap of $13.97 billion and a trading volume of $423.95 million in the last twenty-four hours.
Bitcoin Cash (BCH) Support and Prediction
Yesterday, a major upward movement was initiated from the low of $688 in the value of the coin against the USD. The digital currency tested the 76.4 percent Fibonacci retracement level of the previous swing from the low of $664 to the high of $780.
A couple of hours later, it began an upward movement and started trading over the $700 mark. Nevertheless, the digital currency failed to surge higher after it broke the $700 mark. The digital currency also encountered a strong resistance close to the 38.2 percent Fibonacci retracement level of the previous swing from the high of $780 to the low of $688.
Looking at the present chart of the digital currency, the next key resistance is at $720. Also, a lot of crypto experts have predicted that the digital currency would trade at $1200 before the end of this year if the bullish trends overtake the bears in the market.