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Bitcoin Cash — The Aftermath
Bitcoin Cash has successfully forked into Bitcoin Cash ABC (BCHABC) and Bitcoin Cash SV (BCHSV; SV stands for “Satoshi’s Vision”), so the old coin (BCH) will no longer be available. However, at the time of writing, BCH is still listed on CoinMarketCap at $403. The resulting coins currently stand at 294 (BCHABC) and 170 (BCHSV), both against Tether.
Charts at a Glance — BCHABC/USDT
Considering the fact that trading for both coins has just started, proper technical analysis cannot be conducted, but a few things are worth mentioning. Support is located at 285 and the pair is currently ranging — without clear direction, but it is printing lower highs — so it has a bearish bias. A break of the bearish trend line and of the previous high would tilt the balance in favor of the buyers and would probably spark more buying interest.
Charts at a Glance – BCHSV/USDT
Bitcoin Cash SV seems a lot more bullish than its brother, but the price is much lower and that’s probably one of the reasons that make it appealing to buyers. The price is supported by a bullish trend line and constantly prints higher highs on a 15-minute chart. Immediate resistance sits at 173 and support is represented by the trend line; a break of either one would result in an extended move in the direction of the break.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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