- Bitcoin Cash is trading 1.54% lower today as general crypto sentiment is weak.
- There is a key trendline coming up, after the market rejected 300 to the upside again.
On the Bitcoin Cash, hourly chart price is about to test a key trendline. The uptrend started at the beginning of this month and price has consolidated around the 300 level.
The 300 level has tested and rejected once more last night with the BCH/USD pair now testing 295.00
Under this level, there are a few key support zones that could stop the price from falling lower. 292.35 was used as decent support on the 11th of September.
Beyond that 284.42 is the more important one as it has been tested a few more times.
The RSI indicator hangs just under the mid-zone with lots of downside space.
Lastly, the volume profile indicator is showing us that the price is currently under the mean value area but the aforementioned 292.35 support could be important.
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