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Bitcoin Cash Price Analysis: BCH/USD sandwiched between SMA 50 and SMA 200

FX Street
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  • BCH/USD bears took control following a bullish Friday.
  • The MACD shows sustained bearish market momentum.

BCH/USD daily chart

BCH/USD daily chart

BCH/USD bears stepped in following a bullish Friday as the price dropped from $268.67 to $267.53. The price is trending in a downward channel formation and is presently sandwiched between the SMA 50 and SMA 200 curves. The MACD shows sustained bearish momentum.

BCH/USD has strong resistance levels at $273.50 (SMA 50), $275.80, $283 and $288.75 (SMA 20). On the downside, we have healthy support levels at $264.75, $261 (SMA 200) and $250.65.

Key levels

 

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