Bitcoin Cash BCH Sparks Light Of Hope, Can It Rally To $200 Resistance?

The price of Bitcoin Cash (BCH) has sparked a glimpse of hope against Tether (USDT) as it attempts to flip key resistance with eyes set on $200. The price of Bitcoin Cash in recent weeks has been more gloomy as many altcoins rallied and produced gains of double digits while BCH continues to range.

Timeline of Bitcoin-cash

In line with regulations, Canadian crypto exchanges are introducing measures to cap the annual buy limit for selected cryptoassets at CAD 30,000 (USD 23,250) per year - and these exclude (only) four large coins. 

Bitcoin Cash (BCH) traded above its moving average lines last week. Initially, the bears failed to sustain the momentum below the moving average lines as the bulls halted the decline.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Since dropping from the $275 baseline in early May, Bitcoin Cash [BCH] finally found rebounding opportunities after plunging to its record low in the $96-zone.

Bitcoin Cash [BCH] is among the top gainers in the last seven days after going through another strong bullish phase. An interesting outcome considering that it showed signs of a potential bearish retracement after its mid-month rally.

Uniswap was trading over 20% higher in Thursday's session as the token rose to its highest point since April. This comes as crypto markets surged on Tuesday, in the aftermath of the Fed rate decision. Bitcoin cash moved to a six week high on the news. The global crypto market cap is 6.

As an institutional investor, Saylor said he would need to wait until the protocol is complete before making a decision on its value — but Ethereum may not be stable for three years.

Bitcoin Cash is up more than 30% from its lowest level so far this year and is almost entering overbought territory. However, BCH enthusiasts that might be worried about missing out still have a chance at catching the boat.

Despite the recent market downturn, retail and institutional investors alike are always on the hunt for potentially lucrative ventures to help them achieve their long-term financial goals. Three cryptocurrencies fit this category in July 2022: Bitcoin Cash (BCH), Chiliz (CHZ), and exciting newcomer Degrain (DGRN).

The price of Bitcoin Cash (BCH) is in a downward correction after rallying and getting stuck at the 50-day line SMA. Since July 13, BCH has been trading marginally as it crossed the 21-day line SMA but failed to break the 50-day line SMA.

Shiba inu was trading close to a two-month high on Tuesday, despite prices marginally falling from yesterday's peak. As of writing, prices of the meme coin remained elevated, despite earlier gains easing. Bitcoin cash was also higher, rising for a seventh consecutive session.