- Bitcoin Cash price languish below the month-long trendline resistance.
- The short-term support highlighted at $440; $400 is another vital support zone.
Digital assets are suffering in bloody red waters. The bulls have not been able to breakout of the resistance range, especially for Bitcoin Cash. The trendline resistance has been trimming and limiting gains since the beginning of October. Fortunately, the buyers have established a strong support at $440 which is working as a strong refuge.
At the time of press, Bitcoin Cash is flirting with both the 50 SMA and the 100SMA. The RSI has retreated from the overbought levels while the MACD is still maintaining the stability close to the mean line (0.0). It is likely that losses will continue below the above mentioned support.
However, if Bitcoin Cash bulls regain control and push for a pullback above the trendline, BCH/USD will form a trajectory heading to $460. For a sustained bullish move the buyers must clear the resistance at the upper range limit highlighted by $470. For now, selling entries continue to increase amid the widespread consolidation in the market. Apart from the support at $440, Bitcoin Cash will find another support at $400.
BCH/USD 15′ chart
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