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.

Rajarshi Mitra Independent Analyst

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

BCH/USD

Overview
Today last price	300.0086
Today Daily Change	-1.2663
Today Daily Change %	-0.42
Today daily open	301.2749

Trends
Daily SMA20	246.6369
Daily SMA50	238.1748
Daily SMA100	241.2804
Daily SMA200	273.8333

Levels
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

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.

Ethereum Price Forecast: Long-term holders' capitulation drives ETH below $1,800

Ethereum has fallen below $1,800 on Wednesday, the first time since May 2025 following accelerated spot selling pressure and distributions from long-term holders.

XRP and XLM outlook: Bearish streak extends as risk-off mood erodes retail demand, ETF flows

Ripple and Stellar prices face intense selling pressure, extending losses on Thursday for the fourth consecutive day this week. Cross-border remittance tokens are losing retail sentiment, while XRP faces additional pressure from Exchange-Traded Fund outflows.

Bitcoin drops below $65K amid reinforced bear market signals

Bitcoin dipped further below $65,000 with onchain data from Glassnode signaling a market firmly in a bear phase. The decline has pushed prices back into a key valuation range between the Realized Price and the True Market Mean.

Grayscale launches Hyperliquid staking ETF, undercutting rival fees

Grayscale announced the launch of its Hyperliquid Staking ETF (HYPG) on Wednesday, now trading on Nasdaq. The fund offers investors direct exposure to HYPE and incorporates staking rewards, which the company claims have historically ranged from 2.2% to 2.3% annually.

Billions in ETF outflows don’t bode well

Bitcoin (BTC) remains under pressure, trading below $74,000 on Friday, and is set to post its third consecutive week of losses. The institutional sell-off continues, with spot BTC Exchange-Traded funds (ETFs) recording billions in outflows. In addition, sticky inflation and macroeconomic headwinds suppress the Crypto King’s upside potential. Institutional demand continues to weaken so far this week.

BCH/USD daily chart

Key levels

BCH/USD

Legal Text

Editor's Picks