- Bitcoin Cash falls back after failing to clear $150 resistance.
- Sideways trading to carry the day as buyers defend $137 support.
The cryptocurrency market is finishing the week trading in a sideways trend. The low trading activity comes after a few days of bullish correction across the entire market. Bitcoin Cash was not left behind during the rally on Monday, the price sprung up overcoming the resistance at $130, and $140. An attempt was made to clear the resistance at $150 but the momentum lost steam leading to declines.
Bitcoin Cash currently trades at $142.24 1.27% higher on the day. It has recovered from the support at $137 and is immediately supported by the hourly 100-day Simple Moving Average (SMA) as well as the 50-day SMA in the same range.
It is likely that Bitcoin Cash will test the next resistance at $145. However, the correction towards $150 will not happen in the near-term.
BCH/USD 1-hour chart
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