Bitcoin Cash Price Analysis: Path of least resistance appears to the downside

  • The No. 5 sees a likely dead cat bounce after Saturday’s corrective slide.  
  • BCH/USD looks vulnerable, as the recovery lack follow-through.
  • The spot is the top loser amongst the top 5 favorite crypto coins over 24 hours.

Bitcoin Cash (BCH/USD) stalls its recovery just shy of the 458 threshold, having witnessed a sharp pullback from near an eight-month peak of 496.96 clocked last Friday. The bulls lack follow-through, as they take cues from a similar tone seen across the crypto space this Sunday. Over the last hours, the price has entered a consolidative mode near the 450 level, reporting 2.20% gains on a daily basis while down 8.50% over the last 24 hours. The market capitalization for BCH/USD stands at $8.16 billion.

BCH/USD 1-hour chart


No. 5 coin is teasing a bearish flag breakdown on hourly sticks, with the hourly Relative Strength Index (RSI) flattening below the mid-line.  


An hourly close below the rising trendline support at 446.58 is needed to confirm the bearish continuation pattern.

Bears would target Saturday’s low of 421.30 on a bear flag breakdown.

On the flip side, the bulls need to regain the bearish 21-hourly Simple Moving Average (HMA), in order to revive the recovery momentum.

The next resistance awaits at the horizontal 200-HMA of 461.40, above which the rising trendline resistance will be tested at 463.80.  

BCH/USD levels to watch


Today last price 447.1820
Today Daily Change 7.5358
Today Daily Change % 1.72
Today daily open 439.2822
Daily SMA20 421.5794
Daily SMA50 335.2112
Daily SMA100 278.4656
Daily SMA200 279.6888
Previous Daily High 495.4542
Previous Daily Low 421.31
Previous Weekly High 496.9345
Previous Weekly Low 434.4918
Previous Monthly High 404.3638
Previous Monthly Low 191.7762
Daily Fibonacci 38.2% 449.6331
Daily Fibonacci 61.8% 467.1311
Daily Pivot Point S1 408.5767
Daily Pivot Point S2 377.8712
Daily Pivot Point S3 334.4324
Daily Pivot Point R1 482.721
Daily Pivot Point R2 526.1597
Daily Pivot Point R3 556.8652



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