BCH, which is among the altcoins that have been activated with the decrease of the market dominance of Bitcoin, has increased to 240 USDT levels by breaking the 220-226 USDT band, which it has been stuck in about two weeks, with a sharp upward acceleration. Bitcoin Cash, which has not passed the resistance it has faced in this region, has been watching for the last 3 days. The transaction volumes have also decreased slightly compared to the previous days and this leads to the possibility that BCH may start moving in a new horizontal channel. The 242 USDT resistance, which has been tested since mid-June, has a critical role at this point because BCH has failed to break this area many times. Technically, it is seen that although the 10-day compression triggered an accelerated increase in BCH, this acceleration could not be maintained. At this point, the presence of oscillators in the excessive intake zones of BCH, which breathe a little, makes it difficult for critical resistance. The gradual buying strategy for BCH seems to be both a logical option to protect against the risk of a fall and to capture a possible bullish acceleration, but tracking resistance and support levels will be important when entering the position.
Updated.