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Bitcoin cash price declined significantly after it broke the $380.00 and $330.00 support levels. BCH even tumbled below the $300.00 support before the bulls protected $250.00.

  • Bitcoin cash fell sharply below the $300.00 handle and traded to a new monthly low at $256.79.
  • BCH could struggle to recover above $305.00 and a bearish trend line on the 2-hours chart.
  • The price could resume its slide as long as it is trading below the $305.00 and $330.00 resistances.

Bitcoin Cash Price

Bitcoin Cash Price Analysis (BCH to USD)

In the past few sessions, there was a significant decline in bitcoin price and the crypto market cap. BTC broke the $10,500 support, dragging major altcoins (BCH, Ethereum, ripple, EOS and BNB) below key supports. BCH price tumbled below the $300.00 handle and traded to a new monthly low at $256.79.

Bitcoin Cash Price Analysis (BCH to USD) Chart

Click to Enlarge Chart

Looking at the 2-hour chart of BCH/USD, the pair trimmed most its gains and is down more than 30% from the recent swing high near $400.00. A swing low was formed at $256.79 and the price is currently correcting higher.

It recovered above the $280.00 level plus the 23.6% Fib retracement level of the recent drop from the $351.21 high to $256.79 low. However, the price is still trading well below the $300.00 resistance and the 25 simple moving average (2-hours).

An immediate resistance above $300.00 is near the $305.00 level. It represents the 50% Fib retracement level of the recent drop from the $351.21 high to $256.79 low.


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Moreover, there is a key bearish trend line forming with current resistance near $315.00 on the same chart. The main resistance is near the $330.00 level, above which bitcoin cash price may perhaps start a decent upward move towards the $380.00 resistance.

If there is no upside break above $315.00 or $330.00, the price is likely to slide again. An immediate support is near the $280.00 level, below which the price is likely to revisit the $256.00 swing low. The main support is near the $250.00 level, below which BCH price might slide towards the $220.00 support in the near term.

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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