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Bitcoin cash price is under a lot of pressure below the key $420.00 support. BCH could decline heavily if it clears the main $390.00 support area in the coming sessions.

  • Bitcoin cash price is struggling to recover above the $420.00 and $425.00 resistances.
  • BCH is facing a short term bearish trend line with resistance near $410.00 on the 2-hours chart.
  • A downside break below the $390.00 support could spark a lot of bearish moves in the near term.

Bitcoin Cash Price

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Bitcoin Cash Price Analysis (BCH to USD)

In the past few sessions, bitcoin price failed to recover above the key $11,400 and $11,500 resistance. BTC is now trading well below the $11,000 level, putting a lot of pressure on altcoins such as BCH, Ethereum, ripple, EOS and cardano.

Bitcoin Cash Price Analysis (BCH to USD)

Click to Enlarge Chart

Looking at the 2-hour chart of BCH/USD, the pair recovered recently, but the $450.00 level acted as a strong resistance. The pair topped near the $450.02 level and recently declined below the $425.00 support area.

There was also a close below the $420.00 level and the 25 simple moving average (2-hours). The price is currently trading below the $400.00 handle and is testing the main $390.00 support area.


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If there is a downside break below the $390.00 support, there could be a lot of bearish moves in bitcoin cash in the near term. The next key support is near the $375.00 level, below which the price could extend losses towards the $360.00 support.

On the upside, an initial resistance is near the $408.00 level and the 23.6% Fib retracement level of the recent drop from the $450.02 high to $395.72 low.

Besides, the price is facing a short term bearish trend line with resistance near $410.00 on the same chart. Above $400.00, the price could test the 50% Fib retracement level of the recent drop from the $450.02 high to $395.72 low at $422.80.

The 25 simple moving average (2-hours) is also near the $422.00 level to act as a resistance. A successful close above the $422.00 and $425.00 levels is needed for a decent rebound in bitcoin cash in the near term. If not, there is a risk of a downside break below $390.00 and $375.00.

The market data is provided by TradingView, Coinbase.


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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


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