Bitcoin Cash Price Analysis: BCH/USD drops below $300

BCH/USD has dropped below the SMA 20 curve.
The MACD shows that market momentum has reversed from bullish to bearish.

Rajarshi Mitra Independent Analyst

BCH/USD daily chart

BCH/USD bears took charge of the market this Tuesday as the price fell below the $300-level. The price dropped from $302 to $276, falling below the triangle formation and the 20-day Simple Moving Average (SMA) curve. The MACD shows that the market momentum has reversed from bullish to bearish. The Relative Strength Index (RSI) has dipped from 62 to 51.

BCH/USD shows strong resistance levels at $309.78, $289.85 and $284.70 (SMA 20). On the downside, we have healthy support levels at $271.44 (SMA 200), $258.53, $252 (SMA 50) and $242.60.

The overall crypto market sentiment has reversed from negative to positive. Read more about it here.

Key levels

BCH/USD

Overview
Today last price	275.8916
Today Daily Change	-26.6810
Today Daily Change %	-8.82
Today daily open	302.5726

Trends
Daily SMA20	282.7608
Daily SMA50	250.9327
Daily SMA100	246.6531
Daily SMA200	272.033

Levels
Previous Daily High	309.8178
Previous Daily Low	285.9471
Previous Weekly High	338.2532
Previous Weekly Low	244.1306
Previous Monthly High	306.6192
Previous Monthly Low	215.8202
Daily Fibonacci 38.2%	300.6992
Daily Fibonacci 61.8%	295.0657
Daily Pivot Point S1	289.0739
Daily Pivot Point S2	275.5751
Daily Pivot Point S3	265.2032
Daily Pivot Point R1	312.9446
Daily Pivot Point R2	323.3166
Daily Pivot Point R3	336.8153

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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BCH/USD daily chart

Key levels

BCH/USD

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