Bitcoin cash price started a fresh decline below the 0 zone against the US Dollar. The price is now trading near the 2 zone and the 55 simple moving average (4 hours). There is a major bearish trend line forming with resistance near 0 on the 4-hour chart of the BCH/USD pair (data feed from Coinbase). The pair could start a fresh decline if it stays below the 0 resistance zone. Bitcoin cash price is struggling below the 0 zone against the US Dollar, similar to Bitcoin. BCH/USD could restart its decline if it fails near 0 or 0. Bitcoin Cash Price Analysis Bitcoin cash price remained in a bearish zone below the 0 and 0 resistance levels. BCH traded below the 0 support level to move further into a bearish zone. There was a clear move
Topics:
Aayush Jindal considers the following as important: Altcoin News, bch, Bitcoin Cash, News, Trading
This could be interesting, too:
Godfrey Benjamin writes Stripe Announces Integration with Avalanche
Steve Muchoki writes Consensys: US SEC Chairman Gary Gensler All Along Believed Ethereum Was Security
Chimamanda U. Martha writes Crypto Banking Firm BCB Group Receives Operational License in France
Temitope Olatunji writes MetaComp Partners with HGI to Enhance Crypto ETF Trading and Global Accessibility
- Bitcoin cash price started a fresh decline below the $200 zone against the US Dollar.
- The price is now trading near the $192 zone and the 55 simple moving average (4 hours).
- There is a major bearish trend line forming with resistance near $210 on the 4-hour chart of the BCH/USD pair (data feed from Coinbase).
- The pair could start a fresh decline if it stays below the $210 resistance zone.
Bitcoin cash price is struggling below the $210 zone against the US Dollar, similar to Bitcoin. BCH/USD could restart its decline if it fails near $200 or $210.
Bitcoin Cash Price Analysis
Bitcoin cash price remained in a bearish zone below the $220 and $210 resistance levels. BCH traded below the $200 support level to move further into a bearish zone.
There was a clear move below the $180 zone. The bears were able to flush the price toward the $165 support. A low is formed near $164 and the price is now correcting losses. There was a move above the $175 and $180 resistance levels.
BCH is now trading near the $192 zone and the 55 simple moving average (4 hours). Immediate resistance is near the $200 level. It is close to the 50% Fib retracement level of the downward move from the $236 swing high to the $164 low.
The next key resistance is near the $210 zone. There is also a major bearish trend line forming with resistance near $210 on the 4-hour chart of the BCH/USD pair.
The trend line is near the 61.8% Fib retracement level of the downward move from the $236 swing high to the $164 low. Any more gains above $210 could set the pace for a move toward the $235 level. If there is a move above the $235 resistance, the price could rise toward the $265 zone.
If not, the price might continue lower below $185. Immediate support on the downside is near the $180 zone. The next major support is near the $165 level, below which the bears might aim for $150 or even $145.
Looking at the chart, Bitcoin cash price is now trading near the $192 zone and the 55 simple moving average (4 hours). Overall, the price could start a fresh decline if it stays below the $210 resistance zone.
Technical indicators
4 hours MACD – The MACD for BCH/USD is losing pace in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for BCH/USD is above the 50 level.
Key Support Levels – $180 and $165.
Key Resistance Levels – $200 and $210.