*Presently, BCH/USD appears to have stabilized around its $245 trading price
*BCH has been underperforming in recent times and is unable to regain almost 50 percent of its annual growth
*The Bitcoin Cash network has successfully upgraded the protocol’s most recent changes to the ruleset
BCH/USD Daily Chart
A breakup of the trend alluded to above is projected to be a bullish run. In an extremely improbable scenario of a trend reversal, however, support targets for the cryptocurrency remain steadfast at $225 and $200, respectively. Bitcoin Cash continues to converge between the resistance level of $275 and a support level of $225, as it reserves its energy before the next major eruption.
BCH/USD 4-Hour Chart
On the positive side, it is necessary to overcome the short-term resistance at $250 for further gains towards $260, and ripping the hurdle at $275 may open the way for gains to the key resistance range: $275-$300. The market sentiment reflects weekend support in the $225-$230 range. In the support, massive buyer pressure has pushed Bitcoin Cash upwards.
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