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  • Unlike Bitcoin, Bitcoin Cash is trading lower today and is currently down 1.6%.
  • The price is currently headed to a support level used six times in recent history.

 

After failing to breach 136.00 Bitcoin Cash is pulling back to consolidate at the mean value area at around 225.00.

The support zone at 220.00 has been used six times which is marked on the chart by the rectangles.

There is also a trendline support in the area that could help the cause. So if the price breaks it will need some momentum.

200.00 is now the base level support zone and if bulls are to break out the 235.78 level is the price to break.

The relative strength index is languishing around the mid-level and momentum is on the downside at the moment, but as the price is making higher highs and higher lows lets hope the price can break and hold above.

 

Bitcoin Cash analysis