The difference between the Bitcoin halving in May and the Bitcoin Cash halving is that miners are more inclined to mine Bitcoin due to its value being $7,250 compared to Bitcoin Cash, which is worth just $263.
In terms of the technical aspect of Bitcoin Cash’s chart it desperately needs to break above and close today’s daily candle above the daily 200 moving average for the first time since March 8.
So far today it spiked up to the $282 level of resistance after slumping back down below the 200 MA at $268, indicating a clear lack of strength and momentum.
It will now likely fall back and test the $238 level of support before embarking on its next major move, although in light of its performance since the turn of the year a move to the downside seems more likely.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.