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Bitcoin Cash Price Analysis: BCH/USD falls after losing momentum at the $243.50 resistance level

BCH/USD faced heavy bearish correction following a bullish Wednesday.
The price is trending back inside the red Ichimoku cloud.

Rajarshi Mitra Independent Analyst

BCH/USD daily chart

BCH/USD has dropped from $243.32 to $237 this Thursday, following a bullish Wednesday. In the process, the price has dropped back inside the red Ichimoku cloud, and fallen below the SMA 50 curve. The MACD shows increasing bullish momentum, despite Thursday’s bearish price action.

Support and resistance

BCH/USD faces strong resistance at $243.50, $240.48 and $237.35 (SMA 50). On the downside, healthy support lies at $235 and $230.10 (SMA 20).

Key levels

BCH/USD

Overview
Today last price	236.8392
Today Daily Change	-6.4791
Today Daily Change %	-2.66
Today daily open	243.3183

Trends
Daily SMA20	229.7308
Daily SMA50	237.2038
Daily SMA100	238.6464
Daily SMA200	270.6196

Levels
Previous Daily High	246.0454
Previous Daily Low	236.1407
Previous Weekly High	227.3836
Previous Weekly Low	213.3598
Previous Monthly High	269.2895
Previous Monthly Low	204.6275
Daily Fibonacci 38.2%	242.2618
Daily Fibonacci 61.8%	239.9243
Daily Pivot Point S1	237.6242
Daily Pivot Point S2	231.9301
Daily Pivot Point S3	227.7195
Daily Pivot Point R1	247.5289
Daily Pivot Point R2	251.7395
Daily Pivot Point R3	257.4336

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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