The Bitcoin Cash (BCH) price is trading inside a strong support level at ₿0.026.
The price is following a long-term descending resistance line and trading inside a short-term symmetrical triangle.
A bounce at this level is expected.
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On Feb 15, the BCH price reached a high of ₿0.0483. Since then, the price has been moving downward at an accelerated pace, having already decreased by 45%.
The price made an attempt to initiate an upward move in the beginning of March, but was swiftly rejected and continued its downward movement.
However, the price has reached a significant support level that could reverse this