Bitcoin Cash

<ul><li>Bitcoin Cash (BCH) rebounded 29% in May, recovering from a 44% April decline, and now trades at $493.91.</li><li>Despite volatility, BCH shows strong support at $454 and faces short-term resistance at $530.</li><li>Whale investors have accumulated 10,000 BCH, signaling confidence and potentially driving future price increases.</li></ul>Bitcoin Cash (BCH) has recently shrugged off bearish pressures that followed its halving event, rebounding impressively from its April lows. In April, the BCH saw a steep decline, plummeting 44% from <a href="https://coinmarketcap.com/currencies/bitcoin-cash/" rel="noopener noreferrer nofollow">$714 to $399</a>. However, May brought a resurgence, with BCH climbing 29% to reach $515.The past few days have seen notable volatility in BCH prices. Following an 11% drop over 72 hours, Bitcoin Cash bounced back 5%, reclaiming the <a href="https://coinmarketcap.com/currencies/bitcoin-cash/" rel="noopener noreferrer nofollow">$490 mark</a> by Friday. This volatility coincided with the SEC&#39;s approval of the <a href="https://x.com/ali_charts/status/1793913528640053489" rel="noopener noreferrer nofollow">Ethereum ETF</a> on May 23, which triggered a typical &#34;sell-the-news&#34; reaction among swing traders and retail investors.&#34;Sell-the-news&#34; is a common contrarian trading strategy where investors sell off holdings amid bullish news to lock in profits before potential declines. This strategy appeared in the BCH market, leading to a brief dip to $472. As of press time, BCH is trading at <a href="https://coinmarketcap.com/currencies/bitcoin-cash/" rel="noopener noreferrer nofollow">$493.91</a>, marking a 0.70% increase in the last 24 hours.<a href="https://cryptotale.org/bitcoin-cash-poised-for-breakout-as-whales-fuel-bullish-momentum-report/" rel="noopener noreferrer nofollow">Read more - &gt;https://cryptotale.org/bitcoin-cash-poised-for-breakout-as-whales-fuel-bullish-momentum-report/</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Bitcoin Cash Poised for Breakout as Whales Fuel Bullish Momentum: Report

CryptoTale

Other articles published on May 25, 2024

Crypto Weekly Report: Exposing Hacks, Heists, & Takedowns

Toncoin Sees Significant Price Surge and Faces Resistance Challenges

ChatGPT-4o predicts XRP’s price if the token’s ETF is approved

Top Crypto Presale Trends in 2024

FTX Co-Founder Sam Bankman-Fried Transferred To New Detention Center, Details

BlockDAG’s Updated Dashboard and X100 Miner Propel $32.4M Presale, Outpacing XRP’s Positive Outlo...

Join our free newsletter for daily crypto updates!