Bitcoin Cash Stays In Green Despite Recent Market Correction

If there is one coin that is positive and without loss in value in the top 10, it is BCH. We can see that Bitcoin Cash (BCH) stays in green with a market cap of $4.56 billion and an impressive rise today which actually outperformed many coins in the latest cryptocurrencies news.

Before the market reversal, Bitcoin Cash was up by more than 9% as it broke the key $250 resistance. Now, the levels are below this resistance but BCH is still in a good position. According to traders, Bitcoin Cash stays in green because of its good support and the fact that it rallied before this. The price of BCH is now trading well but analysts predict a surge to $300 if the bullish momentum sustains.

So, the current price action for Bitcoin Cash (BCH) is still very bullish, suggesting that more gains in the near term and above $265 are likely. For now, BCH needs to retrace above $250 so that it can spend time above $260 and then make a crucial attempt near $300. If BCH surges above the $270 and $275 zones, the $300 zone would follow – in this case, the intermediate resistance could be near the $288 level.

All in all, the coin is stable and the technical indicators show that the hourly MACD is gaining pace, the hourly RSI for BCH/USD is now well above the 60 level with a bullish angle and the support is at $240 while the first line of resistance stays at $255 for now.

In the other Bitcoin Cash news, we can see that the digital currency and blockchain company Uquid has annoucned that the Uquid Shop is now live and accepting cryptocurrencies such as Bitcoin Cash for payments.

Uquid Shop – The world's biggest digital shop for crypto ready to live with 30,000 products discount up to 60%. Let's find out why we added #BitcoinCash here https://t.co/ToatqjITzu pic.twitter.com/8zj4e8exJb

— UQUID (@uquidcard) May 28, 2020

As Bitcoin Cash stays in green, Uquid is one of the latest cross-border digital services platforms that support it. With a blockchain-friendly payment system, the platform is all about BCH support and was one of the three blockchain-based companies to be selected by TechCrunch back in 2017.

As the team explained, BCH is a “fast, cheap, reliable, private and with scalability” and all of this is making the coin great compared to many others. Uquid also accepts Uquid (UQC), Tether (USDT), XRP and NEO (NEO) for cryptocurrency payments.