• Contact
  • Privacy Policy
  • Advertise With Us
  • Login
  • Register
Your Trading Edge Magazine
Advertisement
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
Your Trading Edge Magazine
No Result
View All Result

Bitcoin Cash to trend below $100 as weakness in crypto bites

June 20, 2022
in Crypto News
Reading Time: 2 mins read
A A
0
Bitcoin Cash to trend below $100 as weakness in crypto bites
0
SHARES
8
VIEWS
ShareShareShareShareShare

For the past two weeks, Bitcoin Cash has followed in the steps of major coins in decline. The coin now looks significantly bearish even though it has managed to recover a few of this week’s losses. However, downward pressure will likely continue over the weeks ahead as sentiment in the broader market struggles to find momentum. Below are the major BCH highlights:

  • Bitcoin Cash has stopped the downward decline with a modest gain today.

  • But there is no real chance of a sustained bullish run

  • BCH will likely trend lower and eventually lose the $100 support 

Data Source: TradingView 

Why holding a $100 is key?

BCH has faced a lot of pressure in 2022. But the coin has still managed to stay above $100 all year round. This is an important psychological barrier. It shows the resilience of BCH in the face of market-wide pressures. But for the first time in 2022, there is a real risk that BCH could finally fail to keep the $100 mark.

In fact, at the time of writing, the coin was trading at around $120. This was after a modest 24-hour gain of around 3%. BCH is dangerously close to the $100. It only needs a 20% decline to fall to double digits.

For a coin that has already dropped 22% over the last 7 days, another 20% decline is more probable than you think. Nonetheless, once $100 is breached, expect BCH to fall further towards $80 before it finds support.

Why is BCH falling?

The downtrend that BCH has seen is not isolated to the coin alone. In fact, we have not seen any major changes in the coin’s fundamentals here. The fall is largely caused by economic and monetary factors in the global economy.

Sadly, these tough economic conditions will not ease anytime soon. As such, BCH investors must be ready for a consistent bear season.

Credit: Source link

ShareTweetSendPinShare
Previous Post

41-Year-Old Man Who Sold Drugs for Crypto Gets Nine Years in Jail

Next Post

Matrixport Appoints Anthony DeMartino as CEO to Lead and Build its Business in the United States

Related Posts

Metacade Announces Breakthrough Collaboration with Polygon Labs
Crypto News

Metacade Announces Breakthrough Collaboration with Polygon Labs

October 4, 2023
1
SOL Exploded by 25% Weekly, Here are the Key Targets (Solana Price Analysis)
Crypto News

SOL Exploded by 25% Weekly, Here are the Key Targets (Solana Price Analysis)

October 3, 2023
5
Polkadot & Composable announced as Diamond Sponsor at the Cosmoverse’23 conference in Istanbul
Crypto News

Polkadot & Composable announced as Diamond Sponsor at the Cosmoverse’23 conference in Istanbul

October 3, 2023
4
Embattled crypto lender Celsius wants to start repaying customers by year-end
Crypto News

Embattled crypto lender Celsius wants to start repaying customers by year-end

October 3, 2023
6
Is presale sensation Memeinator the meme cryptocurrency to never miss in 2023?
Crypto News

Is presale sensation Memeinator the meme cryptocurrency to never miss in 2023?

October 3, 2023
6
Next Post
Matrixport Appoints Anthony DeMartino as CEO to Lead and Build its Business in the United States

Matrixport Appoints Anthony DeMartino as CEO to Lead and Build its Business in the United States

Recommended

Can ELON price follow spike in network growth?

Can ELON price follow spike in network growth?

September 20, 2023
7
VeChain’s Sustainable Fashion Solution: Breaking the Cycle

Coinbase Adds VET and VTHO, Prices Surge 11% – The Sky is the Limit

September 13, 2023
5
Hong Kong-Based JPEX Faces Money Laundering Allegations Amid Rug Pull Suspicion

Hong Kong-Based JPEX Faces Money Laundering Allegations Amid Rug Pull Suspicion

September 21, 2023
2
Metaverse: a new way for businesses to connect with consumers?

Understanding How 3D AI Immersive Mixed Reality & Apple May Transform the Metaverse

September 13, 2023
6
6 Innovative Techniques to Maximize Trailer Space Utilization

6 Innovative Techniques to Maximize Trailer Space Utilization

September 25, 2023
6
Your Trading Edge Magazine

This is an online news portal that aims to share the latest news about trade, finance, crypto and much more. Feel free to get in touch with us!

What’s New Here!

  • Metacade Announces Breakthrough Collaboration with Polygon Labs
  • SOL Exploded by 25% Weekly, Here are the Key Targets (Solana Price Analysis)
  • July 2023 Sees U.S. Narrow Fabric Import Decline by 3% to $99M

Subscribe Now

Loading
  • Contact
  • Privacy Policy
  • Advertise With Us

© 2021 - ytemagazine.com - All rights reserved!

No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe

© 2021 - ytemagazine.com - All rights reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?