Bitcoin Cash Price Analysis: BCH/USD drops below $300

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  • BCH/USD has dropped below the SMA 20 curve.
  • The MACD shows that market momentum has reversed from bullish to bearish.

BCH/USD daily chart

BCH/USD daily chart

BCH/USD bears took charge of the market this Tuesday as the price fell below the $300-level. The price dropped from $302 to $276, falling below the triangle formation and the 20-day Simple Moving Average (SMA) curve. The MACD shows that the market momentum has reversed from bullish to bearish. The Relative Strength Index (RSI) has dipped from 62 to 51.

BCH/USD shows strong resistance levels at $309.78, $289.85 and $284.70 (SMA 20). On the downside, we have healthy support levels at $271.44 (SMA 200), $258.53, $252 (SMA 50) and $242.60. 

The overall crypto market sentiment has reversed from negative to positive. Read more about it here.

Key levels

 

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