Bitcoin Cash (BCH) Price Jumps 58%: Is a Correction Imminent?

Wednesday, 13 March 2024, 08:00

Bitcoin Cash (BCH) experienced a remarkable 58% price surge in a single day, leading to speculation about the possibility of a correction. Traders now hold more BCH than mid-term holders, indicating potential increased volatility. The Relative Strength Index (RSI) for BCH has quickly risen to overbought levels, raising caution among market participants.

Bitcoin Cash (BCH) Price Jumps 58%: Is a Correction Imminent?

BCH price skyrocketed by 58% in a single day. While the surge is undeniably impressive, market signals are flashing caution.

The balance of Bitcoin Cash holdings has shifted

Traders now hold more BCH than mid-term holders, indicating potential increased volatility in the near future.

BCH RSI Value is Rising Fast

Bitcoin Cash (BCH) has experienced a significant increase in its Relative Strength Index (RSI) over the past seven days, placing BCH in the overbought territory, signaling potential selling pressure in the near future.

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