Bitcoin Cash is trading at $133.22, down 0.04% in the past 24 hours. The cryptocurrency has traded between $130 and $112 for most of the last week. However, it dropped sharply once more on Thursday morning after a media report that said traditional financial firms were not planning to issue their own cryptocurrency products based on Bitcoin Cash (BCH).

Bitcoin Cash (BCH) is one of the pioneers in the crypto industry and has a lot of influence over the overall market trend.

Bitcoin Cash (BCH) is one of the pioneers in the crypto industry and has a lot of influence over the overall market trend. As BCH became a top-10 cryptocurrency by market cap, it has been able to capture the attention of many investors. The value of bitcoin cash soared from $1,300 to more than $3,000 in less than 3 months.

In order to understand this surge, we will take a look at its history and compare it with other cryptocurrencies like Ethereum (ETH).

Bitcoin Cash was created on August 1st, 2017 when Bitcoin's blockchain forked into two separate chains. The original chain called Bitcoin Cash has almost no mining and is controlled by an anonymous group called "the miners".

Bitcoin Cash (BCH) Price History

Bitcoin Cash was created by a group of developers who wanted to create an improved version of Bitcoin which had several shortcomings such as high fees for transactions, slow confirmation times, and low transaction capacity.

BCH fell below the $160 mark, which is a crucial support level for BCH.

Bitcoin Cash (BCH) has been trading in the range of $130 and $150 for several days now. The bears were trying to break this range since yesterday, but they couldn’t do it. BCH dipped below $152 on Wednesday and has been trading in the range between $150 and $160 for the last 24 hours.

BCH has been consolidating since yesterday, but there are no signs that it will break out any time soon. This could be a sign that bulls are losing their steam as they try to push prices back above the resistance level of $200.

The price action suggests that bears have taken over control of Bitcoin Cash markets after they broke out of a long-term uptrend channel on Tuesday. They may have succeeded in pushing prices lower, which would mean that there isn’t much room left for bulls to make gains before they break below support levels again.

It is expected that BCH will bounce back to $200 after this retracement.

Bitcoin Cash Price Analysis: BCH/USD is currently trading at $133.67, up by 1.25% in the last 24 hours. The coin has been trading in a range of $130 to $138.12 for most of the past two weeks, and it seems that there is no end in sight for this period of consolidation.

The recent price action has seen BCH consolidate above an important resistance level at $200, after which it looks like we will witness a drop toward our next support level at $180.

The technical indicators show that BCH is facing resistance near the $200 mark, as well as below it. Both of these levels have been acting as barriers for bulls recently, especially since previous attempts to break through them resulted in failed attempts. This indicates that there is still some room left for bulls to push prices higher before buyers lose their edge.

BCH had a bullish month from April onwards, but it wasn’t able to cross the $200 mark because of high selling pressure at that level.

Bitcoin Cash (BCH) is still in the bearish zone and it has been trading between $113 and $138.12 for the past few weeks. However, BCH has been trading sideways for a while now, which means that there is no clear direction for the coin's price to take.

Bitcoin Cash had a bullish month from April onwards, but it wasn’t able to cross the $200 mark because of high selling pressure at that level. It seems like Bitcoin Cash would need some more time to recover from its losses and get back on track in order to be successful again.

The bears have not given up yet, but they are not strong enough to push BCH below $200. If they do so, we could see another leg down and even toward $150 levels before making another attempt at breaking out of this narrow range.

This decline was followed by a move up to around $130, where it has held for most of the last 12-15 hours.

There are no signs of a reversal yet, but we can see that BCH has been holding near this level for several hours now. At this point, the next area of resistance would be around $160. If BCH manages to break through this level, then we could see another rally up to around $200 within the next few days.

Bitcoin Cash (BCH) is one of the cryptocurrencies that has been in a bearish trend for quite some time now. This decline was followed by a move up to around $130, where it has held for most of the last 12-15 hours.

This suggests that there are still some shorts covering their positions as they have not yet closed out their positions at this point. The BCH/USD pair is currently trading at $133.00, which indicates that there are still some shorts covering their positions.

The price has broken below the 23.6% Fib retracement level of the last wave from the $120 low to the $132 high, which indicates that it may continue its downward movement towards $119 or even lower levels in the near term if it fails to hold above $129.

Bitcoin Cash (BCH) is trading below $140, which is a level that has held for the past few days. This decline was followed by a move up to around $130, where it has held for most of the last 12-15 hours.

The price is currently trading just above this level and is expected to test it again soon. If BCH continues to trade below this level, then we could see another downward move in the short term.

Takeaway: Bitcoin Cash (BCH) Price Analysis & Chart

Bitcoin Cash is going through a downward trend over the past week as the price of Bitcoin and other cryptocurrencies have dived. Bitcoin cash is known for its volatility and it acts against the tide of all other cryptocurrencies in the market. The price of Bitcoin Cash has continued to plummet from $453 to $257 in a matter of weeks taking the value of this currency down by 39%. The one positive aspect of looking at these charts is that BCH seems to be holding support lines just above $200. If BCH manages to consolidate its position above that price level then we can expect it to be a good rest trading opportunity.