Bitcoin Cash Analysis: Bears Aim Larger Decline Below $315

BitcoinBitcoin Cash Analysis: Bears Aim Larger Decline Below $315


  • Bitcoin cash price started a fresh decline from the $354 resistance against the US Dollar.
  • The price is now trading below the $340 zone and the 55 simple moving average (4-hours).
  • There is a key bearish trend line forming with resistance near $338 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase).
  • The pair remains at a risk of a downside break below the $315 support zone in the near term.

Bitcoin cash price is struggling below $330 against the US Dollar, similar to bitcoin. BCH/USD could extend losses if there is a clear move below $315.

Bitcoin Cash Price Analysis

Bitcoin cash price made a few attempts to gain strength above $350 and $355. However, BCH failed to gain pace and started a fresh decline below the $340 level.

There was a move below the $330 level and the 55 simple moving average (4-hours). The price even traded below the 50% Fib retracement level of the upward move from the $290 swing low to $354 high. It is now trading below the $330 level and the 55 simple moving average (4-hours).

There is also a key bearish trend line forming with resistance near $338 on the 4-hours chart of the BCH/USD pair. An immediate support on the downside is near the $315 zone.

The 61.8% Fib retracement level of the upward move from the $290 swing low to $354 high is also near $315. The next major support is near the $300 level, below which the bears gain strength. The next target for them may perhaps be near the $290 level.

On the upside, the price is now facing resistance near the $330 level. The next major resistance is near the $336 level and the 55 simple moving average (4-hours).

A clear break above $336 and $340 might start a fresh increase. In the stated case, the price could even clear the $350 resistance zone. The next major hurdle is near the $380 level.

Bitcoin Cash Price

Looking at the chart, bitcoin cash price is now trading below the $330 zone and the 55 simple moving average (4-hours). Overall, the price remains at a risk of a downside break below the $315 support zone in the near term.

Technical indicators

4 hours MACD – The MACD for BCH/USD is slowly losing pace in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for BCH/USD is now below the 50 level.

Key Support Levels – $315 and $300.

Key Resistance Levels – $340 and $350.

Tags: BCH, Bitcoin Cash



Learn more

Latest news

Toyota to Experiment With Blockchain Use Cases by Sponsoring Astar Network's Hackathon

The auto giant may use technology developed from the hackathon for its internal use. Learn more

AMD’s Profit Plunges Amid Weaker PC Sales

AMD’s Profit Plunges Amid Weaker PC Sales Learn more

Readying Retail For The Next 30 Years

Stephan Schambach is the Founder and CEO of NewStore, a turnkey omnichannel store solution. The events of the...

Barry Silbert’s Grayscale Slapped with Lawsuit by Rival

Alex Dovbnya Grayscale has been accused of misrepresenting chances of getting favorable decision from SEC Digital asset manager Osprey Funds...

McDonald’s Q4 boosted by higher menu prices amid inflation alarms

McDonald’s on Tuesday beat Wall Street estimates for quarterly profit on higher menu prices, even as it warned...

Must read

Toyota to Experiment With Blockchain Use Cases by Sponsoring Astar Network's Hackathon

The auto giant may use technology developed from...

AMD’s Profit Plunges Amid Weaker PC Sales

AMD’s Profit Plunges Amid Weaker PC Sales Learn more

Readying Retail For The Next 30 Years

Stephan Schambach is the Founder and CEO of...

You might also likeRELATED
Recommended to you