Bitcoin cash price analysis: BCH/USD bears takes the price below $400.

• BCH/USD went down from $401.70 to $394 in the early hours of Tuesday.
• BCH/USD dropped by a little over 9% this Monday.

Bitcoin cash is currently in the middle of a downward spiral. BCH/USD has gone down from $401.70 to $394 in the early hours of Tuesday, achieving a low of $375.60. This Monday was extremely bearish for Bitcoin cash as well, as the price went down from $441.50 to $401.25 dropping by a little over 9%. In the process, the BCH/USD daily price went below the 20-day simple moving average (SMA 20) curve.

BCH/USD daily chart

• The hourly BCH/USD price chart is trending below the SMA 20 curve and above the SMA 50 and SMA 200 curves.
• The 20-day Bollinger band is narrowing, which indicated lower market volatility.
• On the downside, support levels lie at $369, $358.25 and 342.25 while resistance levels are at $405, $419 and $445.65.
• The relative strength index is trending in the neutral zone at 52.70.
• The Elliot oscillator has had six bearish sessions in a row.
• The signal line is diverging away from the moving average convergence/divergence (MACD) line indicating greater bearish momentum.