Home Bitcoin Cash Price Analysis: BCH/USD bears remain in control for the fourth straight day as price drops below $230
Crypto News

Bitcoin Cash Price Analysis: BCH/USD bears remain in control for the fourth straight day as price drops below $230

FX Street
Updated:
  • William’s %R is trending inside the oversold zone, indicating that BCH/IUSD may experience bullish correction soon.
  • The SMA 50 is looking to cross over SMA 20 to chart a bearish cross pattern.
  • BCH/USD faces resistance at the SMA 50, SMA 20, $245.80, $264.25 and SMA 200. 

BCH/USD daily chart

BCH/USD daily chart

BCH/USD dropped from $228 to $226.57 as the price faced its fourth straight bearish day. As with the rest of the crypto market, BCH/USD had a devastating Thursday as well, where it plummeted from $239.70 to $228. The SMA 50 is looking to cross over SMA 20 to potentially chart a bearish cross pattern. William’s %R is trending inside the oversold zone, indicating that BCH/IUSD may experience bullish correction soon.

The bulls need to overcome resistance at SMA 50, SMA 20, $245.80, $264.25 and SMA 200 to reverse the current bearish market sentiment completely. The bears have to aim for the $215.20 and $203.05 support levels to maintain downward momentum.

Key levels

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2024