Image default
Cryptocurrency News

Is It Time to Cash Out on Bitcoin Cash?

The crypto market has been on a downhill ride for some time now. That’s why many traders are wondering whether they should cash out on relatively better-performing currencies, such as Bitcoin Cash. 

Bitcoin Cash has been less volatile than most of its peers during the recent months. The cryptocurrency recently rallied to 344.16 dollars, showing a 4.03% growth. Some experts see BCH as a decent investment due to its low volatility. You can click here to learn more about the future of BCH. 

Its volatility rate is currently amid the 9% top-performing cryptocurrencies. The percentage assesses the recent trends without accounting for any sudden spikes. That is why Bitcoin Cash’s current volatility rate has a low reading, meaning the crypto is likely to show fewer price swings.

Moreover, it is currently trading near resistance, placed at 348.49 dollars. With the support placed at 319.94 dollars, the currency possesses probable selling pressures as it may get over-extended. If the crypto manages to cross the resistance level, it would be the best time to cash out on it.

On the other hand, its support level being so low can deter traders from investing in it. Since many beginners have recently started entering the crypto market, such information has become a must for them. Depending on the crypto’s sub-class and recent trends, they can assess how it may perform in the near future.

In Bitcoin Cash’s case, the short-term spectrum seems to be doing decently. Thus, crypto is more likely to provide positive returns to traders.

Related posts

Can SafeMoon Price Ever Reach $1?

Mariann Blocher

Korean Crypto Bank to Provide Ethereum Staking to Investors

Mariann Blocher

Meld Releases Decentralized Lending on Cardano

Mariann Blocher