Bitcoin Cash (BCH) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Thursday, the Digital Money has added 1.11% to $121.81.
InvestorsObserver gives Bitcoin Cash a moderate volatility rank of 30, placing it in the bottom 30% of cryptos on the market.
The Volatility Gauge follows this means that the rank represents its recent trends and isn’t overly influenced by a sudden spike – or two – in volatility.
BCH’s moderate volatility reading pairs with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.
Bitcoin Cash price is trading near resistance. With support around $118.76 and resistance near $122.76. This positions Bitcoin Cash with potential selling pressures ahead as it may be getting over extended.
What is a Coin?
A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.
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This news is republished from another source.