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Bitcoin Cash Price Analysis: BCH/USD bears caused large threat to the $300 mark

  • Bitcoin Cash price is trading in the red, with losses of 2.85% in the second half of the session.
  • BCH/USD broken below daily support at the $325 level, making way for further pressure south. 
  • In terms of area of support, eyes on $300, $280 and then $250. 
Bitcoin Cash Price Analysis: BCH/USD bears caused large threat to the $300 mark
Ken ChigboKen ChigboIndependent Analyst

BCH/USD daily chart

A big test from the bears was seen on the $300 price mark, however, the bulls did manage to defend it for now. 

BCH/USD 60-minute chart

The bulls managed to escape from a near-term descending channels structure. 

Spot rate:                   321.18

Relative change:        -2.80%

High:                            327.05

Low:                             315.25

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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