Bitcoin Cash Technical Analysis: Bearish correction begins, will $300 hold strong?

  • BCH/USD is going through bearish correction following two straight bullish days.
  • The RSI is hovering inside the overbought zone.

BCH/USD daily chart

BCH/USD daily chart

BCH/USD has ventured into the overbought zone following bullish dominance over Thursday and Friday. The asset, having dropped from $301.09 to $300.13, is presently going through a period of slight bearish correction as price looks to drop below the $300-level. The price is trending in an upward channel formation and has re-entered the 20-day Bollinger Band. 

BCH/USD has strong support levels at $273.80 (SMA 200), $265,78, $252.40, $249.72 (SMA 20) and $239.70 (SMA 50). The MACD shows that market momentum is still overwhelmingly bullish, while the RSI is still hovering inside the overbought zone.

Key levels


Today last price 300.0086
Today Daily Change -1.2663
Today Daily Change % -0.42
Today daily open 301.2749
Daily SMA20 246.6369
Daily SMA50 238.1748
Daily SMA100 241.2804
Daily SMA200 273.8333
Previous Daily High 306.6192
Previous Daily Low 287.5034
Previous Weekly High 306.6192
Previous Weekly Low 244.4436
Previous Monthly High 306.6192
Previous Monthly Low 215.8202
Daily Fibonacci 38.2% 299.317
Daily Fibonacci 61.8% 294.8056
Daily Pivot Point S1 290.3125
Daily Pivot Point S2 279.3501
Daily Pivot Point S3 271.1968
Daily Pivot Point R1 309.4282
Daily Pivot Point R2 317.5815
Daily Pivot Point R3 328.5439



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

ETH/BTC skyrocketing, Bitcoin stays above $11,000

The cryptocurrency market lived through a volatile weekend as Bitcoin an all major altcoins hit new multi-month highs and crashed back in a matter of minutes. 

More Bitcoin News

ETH/USD struggles to hold the gains, bears target at $350.00

Ethereum, the second-largest digital asset, hit the new high at $415 on Sunday, August 2, and retreated to $379.70 by press time. The second-largest digital asset has gained nearly 3% since the beginning of the day, though it is still down 1% in the recent 24 hours. 

More Ethereum News

ETC/USD Price Analysis: Bounce from 100-day SMA keeps buyers hopeful above 7.0000

ETC/USD retraces from the lowest in a week to 7.2900, up 1.60% on a day, during the early Monday. In doing so, the pair takes a U-turn from 100-day SMA, which in turn again pushes in north towards ...

More Ethereum Classic News

XRP/USD climbs back above $0.3000, bulls struggle to regain control

Ripple's XRP has recovered above $0.30 after a dip to $0.2839 during early Asian hours. The coin has gained over 5% since the start of the day and 3% in the recent 24 hours.

More Ripple News


Bitcoin Weekly Forecast: Fasten your seatbelts, next stop is $12,000

Bitcoin has had its best week since mid-2019. The first digital currency gained over 18% in a single week and hit the new highest level of 2020. At the time of writing, BTC/USD is changing hands at $11,358 and the upside momentum is gaining traction as Bitcoin bulls are pushing at the upper line of the weekly Bollinger Band. 

Read the weekly forecast