BCH\/USD<\/a> is recovering from the intraday low of $219 and hit $228 during early Asian hours. At the time of writing, BCH\/USD is changing hands at $226.78, having gained over 2% since the beginning of the day and 4.50$ on a day-to-day basis. Despite the recovery, the eighth-largest digital asset with the current market value of $4.2 billion and $2.5 million trading volume.<\/p>\nWhat to Expect from Bitcoin Cash (BCH)<\/h4>\n
BCH\/USD hit the recent bottom at $219 and has been growing slowly ever since. However, if the bulls maintain the upward trend, it may likely cross above the 21-day moving average which could push the market price to the resistance levels of $255, $265, and $275, taking the price to cross above the channel. Meanwhile, strong selling pressure may drag the price below the 9-day moving average.<\/p>\n
However, while trading below this level, a bearish continuation may likely bring the price to the supports of $195, $185, and $175. Meanwhile, the technical indicator RSI (14) is seen moving below the 40-level, indicating that possible bearish movement may come into play.<\/p>\n
With Bitcoin comparisons, the market has evolved for a while in a very different way. But currently, the sellers are gaining the market as they are moving under the 9-day and 21-day moving averages around the lower boundary of the channel while the RSI (14) moves towards the oversold region.<\/p>\n