Bitcoin cash price started a fresh decline below the 0 zone against the US Dollar. The price is now trading below the 0 zone and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near 4 on the 4-hour chart of the BCH/USD pair (data feed from Coinbase). The pair could continue to move down if it stays below the 2 resistance zone. Bitcoin cash price is declining below the 2 zone against the US Dollar, similar to Bitcoin. BCH/USD could extend losses if there is a close below 0. Bitcoin Cash Price Analysis Bitcoin cash price remained in a bearish zone below the 5 and 0 resistance levels. BCH traded below the 2 support level to move further into a bearish zone. There was a clear move below
Topics:
Aayush Jindal considers the following as important: Altcoin News, bch, Bitcoin Cash, News, Trading
This could be interesting, too:
Bilal Hassan writes Morocco to Become First Developing Country with Clear Crypto Regulations
Bilal Hassan writes Cryptopia Liquidators Distribute 0 Million to Victims of 2019 Hack
Bilal Hassan writes Mo Shaikh Steps Down as CEO of Aptos Labs to Start New Chapter
Bilal Hassan writes FTX Announces January 2025 as Effective Date for Reorganization Plan
- Bitcoin cash price started a fresh decline below the $250 zone against the US Dollar.
- The price is now trading below the $240 zone and the 55 simple moving average (4 hours).
- There is a key bearish trend line forming with resistance near $234 on the 4-hour chart of the BCH/USD pair (data feed from Coinbase).
- The pair could continue to move down if it stays below the $242 resistance zone.
Bitcoin cash price is declining below the $242 zone against the US Dollar, similar to Bitcoin. BCH/USD could extend losses if there is a close below $220.
Bitcoin Cash Price Analysis
Bitcoin cash price remained in a bearish zone below the $255 and $250 resistance levels. BCH traded below the $242 support level to move further into a bearish zone.
There was a clear move below the $235 zone. The price is now moving lower below the 50% Fib retracement level of the upward move from the $217 swing low to the $249 high. The bears seem to be in control below $242 and $250.
Bitcoin Cash is now trading below the $240 zone and the 55 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $234 on the 4-hour chart of the BCH/USD pair.
Immediate resistance is near the $232 level and the 55 simple moving average (4 hours). The next key resistance is near the trend line and $235. Any more gains above $235 could set the pace for a move toward the $242 level. If there is a move above the $242 resistance, the price could rise toward the $250 zone.
If not, the price might continue lower below $230. Immediate support on the downside is near the $225 zone. The next major support is near the $220 level, below which the bears might aim for $215 or even $205.
Looking at the chart, Bitcoin cash price is now trading below the $240 zone and the 55 simple moving average (4 hours). Overall, the price could continue to move down if it stays below the $242 resistance zone.
Technical indicators
4 hours MACD – The MACD for BCH/USD is gaining pace in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for BCH/USD is below the 50 level.
Key Support Levels – $225 and $220.
Key Resistance Levels – $235 and $242.