BCH Looks Positive But Still Lacks Enough Momentum

BCH looks positive on the charts but still looks like it lacks momentum to reach the 250.00 price range. The main support level is standing at 200.00 and the price is above the key moving average as we are about to see in the upcoming Bitcoin cash news.

Bitcoin Cash is trading over 8 percent higher as the sentiment still improves. The major resistance levels are marked in red on the charts which stand under 250.
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This is a key level for the bulls since it was been used previously for a few times especially in the last 6 months or so. The internal trendline on the charts is also proving quite problematic as there is a huge candle shadow forming that causes issues at the moment.

BCH looks positive according to the technical indicators and the price is standing strong above the 200 and 55 moving averages which are quite bullish. The RSI is also in a positive zone above 50 and the only thing that it can improve the altcoin is the volume if it goes up as it seems like an uncertainty right now.

The latest Bitcoin Cash updates show that BCH, along with Bitcoin SV (BSV), is the best performers in the top 10 largest cryptocurrencies by market cap. The prices of BCH and BSV are up by 70% and 100% in the past 10 days, and today’s increases are of more than 14% and 15%, respectively. The recent run-up to $226 for BCH was impressive as Bitcoin Cash slices through its resistance now and is prepared for more gains in the near term, just like the Bitcoin SV (BSV) altcoin. Both of the coins sit at a pivotal point that could decide where they are headed next, and the latest Bitcoin Cash updates promise a good future for this altcoin.

Also as per the recent Bitcoin Cash (BCH) news, the largest blockchain conference in Japan recently got canceled due to fears of the additional spread of the COVID-19 or popularly known as the coronavirus, urging many people to stay and work from home.  Unfortunately, not all the events in Japan have been able to move successfully in the virtual world.