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The rates of most of coins keep rising; however, there are some exceptions to the rule.
Top coins by CoinMarketCap
BCH/USD
The rate of Bitcoin Cash (BCH) keeps growing, rising by 4.56% over the last 24 hours.
Image by TradingView
On the hourly chart, the rate of Bitcoin Cash (BCH) is trading in the middle of the recently formed local channel, between the support at $272.7 and the resistance at $295. As most of the ATR has been passed, ongoing sideways trading is happening around $280.
Image by TradingView
A similar picture can be seen on the daily chart as neither buyers nor sellers have seized the initiative yet. Bulls can think about a further upward move only if the rate gets back to the $300 zone and fixes above it.
In that case, there is a chance to see a resistance breakout, followed by a blast to the $340 area.
Image by TradingView
From the midterm point of view, it is too early to make any predictions, as the candle is far from the closure. However, if the bar closes above the previous peak at $304, the growth may continue to $350 by the end of the month.
Bitcoin Cash is trading at $284.4 at press time.
Yuri Molchan
Vladislav Sopov
Gamza Khanzadaev
