Crypto

Bitcoin Cash has fallen below its core support: How will the price be set?

  • Bitcoin Cash (BCH) did not surpass the $ 1,480-1,500 level and showed a sharp decline against the US dollar
  • There was a break below the major link trend line with the $ 1,410 support on the BCH / USD's hourly chart [19659002] The pair even broke the recent decline and could continue to grow to the level of $ 1,200.
  • Bitcoin Cash fell below its core support. In this case, the current trend will determine how the price will improve.

Bitcoin Cash has fallen below basic support against the US dollar.

Bitcoin Cash drops below basic support

We debated how the $ 1,480 and $ 1,500 levels yesterday stopped the upward movement of Bitcoin Cash against the US dollar. The price did not go above the specified levels and fell sharply below $ 1,400.

Bitcoin Cash opened its doors for further losses, and with the support of the $ 1,410 on the hourly chart of the BCH / USD parity, a significant downward trend was observed on the trend line, with the support of $ 1,410 on the hourly chart of the BCH / USD parity. there was a break. The pair has even been beneath your 1,300 dollar support and 100-hour simple moving average. These are showing signs of decline below $ 1,300, and the price may continue to trade lower in the short term. At the moment, BCH is trading at a level of $ 1,240 with so many sales pressures.

 Bitcoin Cash drops below its key support: How will the price go up?
Bitcoin Cash drops below its core support: Peki How will the price go up?

When we look at the graph, it is observed that the price can continue to grow to the level of $ 1,200.

Bitcoin Cash price analysis

Hourly MACD: MACD for the BCH / USD pair is trying to accelerate in the downward zone.

The RSI for the Hourly RSI (] has reached the RSI oversold level for the BCH / USD.

The Main Support Level: $ 1,200

Great Resistance Level: $ 1,300

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