Bitcoin Cash followed in the footsteps of Bitcoin and other major cryptocurrencies. The price is down 4% on the day after opening the day at $237. BCH/USD teeters at $228 while extending the bearish leg below the descending channel. The price is also below the moving averages; both the 50 SMA and the 200 SMA are likely to stand in the way of upward movement at $246.59 and $242.68 respectively.
ETH/USD is changing hands at $223.40, down over 5% in the recent 24 hours. The second-largest digital coin hit the intraday low at $218 before fresh buying interest helped to push it back above $220.00. Despite the recovery, ETH is trading within a short-term bearish trend amid high volatility. Currently, Ethereum’s market value is registered at $24.9 billion, while an average daily trading volume is $9 billion.
Ripple’s XRP is changing hands at $0.1844 down over 3% both on a day-to-day basis and since the beginning of the day. The four-largest didital asset with the current market capitalization of $8.2 billion and an average daily trading volume of $1.1 billion extended the decline after a period of range-bound trading during the weekends.