The value of #BitcoinCash is currently decreasing from its previous position of $125 against the US Dollar, much like Bitcoin. If the price falls below $105, there is a high possibility that BCH/USD will experience a significant decline. 

Despite its efforts to surpass the resistance levels of $125 and $130, Bitcoin Cash has been unable to gain momentum. As a result, BCH reached a peak of $125.94 before beginning a new downward trend.

The market has experienced a significant downward trend, with prices dropping below key support levels of $122.00 and $120.00. The bears have been particularly aggressive, driving prices even further down below the $115 support level. The market has since tested the $106 support level, with a low of $106.30 being recorded. Currently, the market is consolidating its losses and trading below the $115 zone and the 50-hour simple moving average.

According to #priceanalysis , The BCH/USD pair is currently facing a few resistance levels that need to be overcome for a potential upward trend. The first immediate resistance is at the $110 level, followed by a key resistance at $116. On the 4-hour chart, a bearish trend line is forming with resistance near $116.This trend line is also close to the 50% Fib retracement level of the current slide from the swing high of $125.94 to the low of $106.30. The main resistance level is $120, and any more gains above $116 and $120 might create an opportunity for a move above $125. If the price manages to break above the $125 resistance, it could potentially rise towards the $130 zone. 

If the current trend persists, the price is likely to drop below $106. However, there is an immediate support level around the $105 mark. If this level is breached, the bears may set their sights on the $100 level, and if that is broken, they may aim for $92. The next target for the bears could be around the $85 level. 

KEY LEVELS :

RESISTANCE LEVEL : $111-$115

SUPPORT LEVEL : $104-$100

#coingabbar

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.

The cryptocurrency market jumped at the excitement of the potential for a Bitcoin spot ETF approval. With that expected to happen soon, analysts have given their bullish predictions for two Bitcoin forks, Bitcoin Cash and Bitcoin Spark.
Bitcoin Spot ETF Expected To Boost the Crypto Industry
Crypto analysts and investors alike have expressed their bullish sentiments about a potential spot ETF approval. Coinbase has predicted that a Bitcoin spot ETF will help the industry to hit the ground running. 
Market analysts believe that the introduction of the ETF will stabilize the market and support the price of Bitcoin. According to Coinbase’s COO, it will contribute to industry stability. The news has already boosted the sector; for the first time in more than a year, the price of Bitcoin has risen beyond $35,000. 
The first ETF approval date has not been announced, but the price prognosis for Bitcoin is still optimistic. Analysts predict that by 2024, the price of Bitcoin will have increased to a record high.
How High Can the Bitcoin Cash Price Go?
Bitcoin Cash (BCH) was one of the first forks of the original Bitcoin codes. Although BCH hasn’t enjoyed as much mainstream success as BTC, the Bitcoin Cash price movement has mimicked Bitcoin’s. As a result, analysts have predicted that the BCH price will rise on the ETF approval.
In the last two months, the price of BCH has been on a price increase. The price of Bitcoin Cash rebounded off the $180 resistance in mid-September and increased as high as $286 in late October. Unfortunately, BCH retraced back to $238 in November. 
Despite its recent downtrend, analysts have remained bullish about the launch. They predicted that the price performance of Bitcoin Cash would improve on the launch of the spot ETF. First, BCH will need to break above the $250 and $300 in the coming weeks. 
The Bitcoin Upgrade: How High Can Bitcoin Spark Go?
Bitcoin Spark has made headlines for being a Bitcoin hard fork, adding remarkable upgrades to the original network. Bitcoin Spark has created a unique network that has solved the long-standing problem of Bitcoin – smart contract functionality.
The integration of smart contract capability into this new hard fork enhances the security and stability of the Bitcoin system. On the Bitcoin Spark network, developers can create and implement decentralized apps (dApps) because of its integrated smart contract functionality.
To meet the demands of dApps, the network has developed Proof of Process, a faster and more effective consensus mechanism. Investor interest has increased because of this latest fork, which combines DeFi with the dependability of Bitcoin. Because of this, Bitcoin Spark is now the greatest new cryptocurrency to purchase.
Bitcoin Spark also launched a crypto presale to give investors a chance to get into Bitcoin early. The project just entered its ninth ICO stage, where the BTCS trades at $3.50 per token. As the spot ETF launches, the price forecast for BTCS is that it could rally above $45.
⚠️Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#BitcoinETF #BitcoinCash #BCH

#BitcoinCash initiates a fresh decline under $265 against the US Dollar, mirroring Bitcoin's decline below $255. Further downside potential if it remains below $240 resistance. BCH/USD may extend losses with a close below $232.

On The Daily Chart:

Bitcoin Cash struggled to surpass the $295 and $300 resistance levels, leading to a sharp decline. It peaked at $295, breaching support at $285, $265, and $250. The price tested $232, reaching a low of $231.61. Currently consolidating losses, trading close to the 23.6% Fib retracement level from $295 to $231.61. It remains below $265 and the 21-day simple moving average. The last two days formed a Gravestone Doji pattern.

On The 4-Hour Chart:

BCH is currently near the lower boundary of the Descending channel on the 4-hour charts. Despite buyers attempting to reverse the trend between the 50-day and 200-day EMAs, the coin has been facing consistent decline, marked by lower lows in recent months. The RSI is above 50 and increasing, indicating a bearish trend. A break below $232 will confirm the ongoing bearish trend, with a potential drop to $200 anticipated.

According to Coingabbar Price Analysis, the market capitalization of #BCH is estimated to be $4,724,054,774. The 24-hour trading volume for the coin is around $163,921,821.

KEY LEVELS :

RESISTANCE LEVEL : $245-$256

SUPPORT LEVEL : $238-$232

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.

#GOATMoments #Binanceturns6 #coingabbar $BCH

Cryptocurrencies encompass more than just their current trading price, total market cap, and tokenomics. This groundbreaking technology, that’s behind shifting a trillion-dollar industry, was created to benefit individuals and tackle tangible issues, like the use of peer-to-peer cash systems.Given this reality, the examination of the Daily Active Addresses (DAA) indicator, as accessed on the Santiment screener, can assist in identifying which projects have been actively used, and to what degree. As per the Santiment’s definition, DAA quantifies the count of unique addresses involved in all transactions for each crypto network on a daily basis.Finbold analyzed the data delivered by Santiment on October 6, pinpointing the top 5 digital currencies boasting the highest daily active addresses within the preceding 30 days. Here’s what we discovered:1. #Bitcoin (BTC): 1.04 million DDA in one month;2. #Ethereum (ETH): 423,880 DDA in one month;3. #Polygon (MATIC): 221,510 DDA in one month;4. #Litecoin (LTC): 218,580 DDA in one month;5. #BitcoinCash (BCH): 79,500 DDA in one month.