Earn Your First Bitcoin Sign up and get Bonus Referral bonus up to ,000 Sign up Bitcoin cash price started a fresh decline below the 0 zone against the US Dollar. The price is now trading below the 8 zone and the 55 simple moving average (4 hours). There was a break below a key bullish trend line with support at 6.00 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 6 resistance zone. Bitcoin cash price is declining below the 8 zone against the US Dollar, similar to Bitcoin. BCH/USD could extend losses if there is a close below 2. Bitcoin Cash Price Analysis Bitcoin cash price struggled to gain
Topics:
Aayush Jindal considers the following as important: Altcoin News, bch, Bitcoin Cash, News, Trading
This could be interesting, too:
Chimamanda U. Martha writes Avail Teams Up with Leading Blockchain Platforms for Data Integration
Steve Muchoki writes Aligned Layer Successfully Raised M in Series A Funding Round Led by Hack VC
Mayowa Adebajo writes BNB Chain to Move Native Liquid Staking Feature to BSC
Temitope Olatunji writes Renzo (REZ) Addresses Community Backlash with Airdrop Adjustment and Token Stabilization Efforts
Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000
Sign up- Bitcoin cash price started a fresh decline below the $120 zone against the US Dollar.
- The price is now trading below the $118 zone and the 55 simple moving average (4 hours).
- There was a break below a key bullish trend line with support at $116.00 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 $116 resistance zone.
Bitcoin cash price is declining below the $118 zone against the US Dollar, similar to Bitcoin. BCH/USD could extend losses if there is a close below $112.
Bitcoin Cash Price Analysis
Bitcoin cash price struggled to gain pace for a move above the $120 and $122 resistance levels. BCH formed a high near $120.93 and started a fresh decline.
There was a clear move below the $118.00 and $116.00 support levels. The pair even declined below the $116 support. It tested the $112 zone. A low is formed near $112.89 and the price is now consolidating losses. It is now trading above the 23.6% Fib retracement level of the recent decline from the $120.93 swing high to the $112.89 low.
Besides, it is trading below the $118 zone and the 55 simple moving average (4 hours). Immediate resistance is near the $116.00 level and the 55 simple moving average (4 hours).
The 50% Fib retracement level of the recent decline from the $120.93 swing high to the $112.89 low is also near $116. The next key resistance is near $118. Any more gains above $116 and $118 could set the pace for a move toward the $120 level.
If there is a move above the $120 resistance, the price could rise toward the $128 zone. If not, the price might continue lower below $112. Immediate support on the downside is near the $110 zone. The next major support is near the $105 level, below which the bears might aim for $100.
Bitcoin Cash Price
Looking at the chart, Bitcoin cash price is now trading below the $118 zone and the 55 simple moving average (4 hours). Overall, the price could continue to move down if it stays below the $120 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 below the 50 level.
Key Support Levels – $112 and $110.
Key Resistance Levels – $116 and $118.