Bitcoin Cash (BCH)
Negotiate with $ 452.13, down 0.54% in the last 24 hours, after failing to violate the level of resistance of $ 467 on several tests, according to the Technical Analysis model of Coindesk Research.
The token briefly jumped near this level at the end of June 23, winning almost 3% during a high volume peak, but was then rejected twice as much, strengthening the meaning of this barrier. A descending trend line was formed during the corrective decline, with lower ups establishing a tone in the short -term lower.
On the regulatory level, the president of the federal reserve Jerome Powell announced that American banks now have the freedom to determine their clientele of digital assets without prior regulatory pre-approval. This change in policy effectively removes obstacles to institutional adoption and is considered a significant step towards greater integration of the crypto in the traditional financial system.
Strengths of technical analysis
- BCH exchanged a range of $ 19.76 (4.4%) from $ 449.61 to $ 469.63 over 24 hours.
- At 10:00 p.m. on June 23, BCH jumped almost 3% out of 79,485 volume units, fixing resistance at $ 467.
- The level of $ 467 has been tested and rejected twice more, confirming strong resistance to general costs.
- The support was formed around $ 450 with a large volume accumulation between 15: 00 and 16: 00.
- A downward trend line of the lower ups appeared after the initial tip, signaling a downward momentum.
- A V-shaped micro-trend was formed during the last hour, with a rebound of $ 449.94 to $ 451.31.
- The volume increased during the fall of 18: 17-18: 19 and again on the recovery of 18: 30-18: 32.
- A short -term support area has developed nearly $ 450 after repeated successful repetitions.
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