Bitcoin Cash Technical Analysis: BCH/USD eyes on critical $240 support


  • Bitcoin Cash late in the session on Thursday was trading firmly in the red, down a chunky 11.50%.
  • BCH/USD is set to rest $240 which is a key daily support level, low of 3rd April.
  • If the above noted fails to hold then the price could tumble quickly back down to the pre-April bull urn levels, see around $160. 

Spot rate:                  270.01

Relative change:      -11.52%

High:                         305.94

Low:                          254.54

BCH/USD

Overview
Today last price 269.5274
Today Daily Change -35.2372
Today Daily Change % -11.56
Today daily open 304.7646
 
Trends
Daily SMA20 223.6469
Daily SMA50 171.9293
Daily SMA100 151.7956
Daily SMA200 251.5698
Levels
Previous Daily High 315.5138
Previous Daily Low 295.028
Previous Weekly High 352.3611
Previous Weekly Low 165.7283
Previous Monthly High 172.9457
Previous Monthly Low 120.5261
Daily Fibonacci 38.2% 307.6882
Daily Fibonacci 61.8% 302.8536
Daily Pivot Point S1 294.6905
Daily Pivot Point S2 284.6163
Daily Pivot Point S3 274.2046
Daily Pivot Point R1 315.1763
Daily Pivot Point R2 325.588
Daily Pivot Point R3 335.6621

 

BCH/USD 60-minute chart

  • The price had been ranging before the bears managed to force a breach, inviting a strong wave of selling pressure to the downside. 

BCH/USD daily chart

  • Daily support is eyed at $240, 3rd April low, a breach could see a full reversal of the recent run higher. 

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