• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis

Bitcoin Cash Price Analysis: BCH/USD Primed for More Declines

Aayush Jindal by Aayush Jindal
3 years ago
in Technical analysis
Reading Time: 2min read
Bitcoin Cash Price Technical Analysis BCH USD
Advertisement

Key Points

  • Bitcoin cash price failed to recover and declined further below $740 against the US Dollar.
  • This week’s highlighted crucial bearish trend line is intact with resistance at $745 is intact on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair is likely to extend the current decline back towards the $680 level in the near term.

Bitcoin cash price declined heavily below $740 against the US Dollar. BCH/USD remains at a risk of more losses below the $700 level.

Bitcoin Cash Price Decline

Yesterday, there was a minor recovery above the $750 level in bitcoin cash price against the US Dollar. However, the BCH/USD pair failed to hold gains and declined back below $750 and $740 support levels. It traded close to the $700 level and formed a low at $705. The current bias is very negative since the price is placed well below the $750 level and the 100 hourly simple moving average.

If the price breaks the $705 low, it could decline sharply in the near term. The next support below $700 is at $680, which may act as a decent buy zone. Below this, the price could revisit the $650 support area. On the upside, an initial resistance is the 23.6% Fib retracement level of the last drop from the $840 swing high to $705 low. More importantly, this week’s highlighted crucial bearish trend line is intact with resistance at $745 is intact on the hourly chart of the BCH/USD pair. Above the trend line, the next resistance is near the $770 level and the 100 hourly SMA.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Bitcoin Cash Price Analysis BCH USD

Looking at the chart, the price is clearly in a major downtrend below $750. Should there be a break below $705, it won’t be easy for BCH buyers to bounce back.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is placed heavily in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is now near the oversold levels.

Major Support Level – $705

Major Resistance Level – $745

Tags: BCHBCHUSDBitcoin Cash AnalysisBitcoin Cash ChartBitcoin Cash ForecastBitcoin Cash PriceblockchaindaytradingOpiniontradingvirtual currency
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

uniswap airdrop lottery winner

Uniswap Airdop Value Reaches $13,000 For Those That Didn’t Sell Early

2 hours ago
Uniswap’s UNI

Charted: Uniswap’s UNI Enters Top 10, Why It Could Soon Test $42

15 hours ago
Ethereum

TA: Ethereum Rallies Above $1,700, Why ETH Could Soon Test $1,800

17 hours ago
Bitcoin

TA: Bitcoin Turns Attractive Above $50K, Why BTC Extend Its Rally

19 hours ago
Ethereum

Ethereum Climbs above $1,600, Why ETH Could Soon Test $1,720

2 days ago
Bitcoin Price

Why Bitcoin Price Could Start Strong Increase Above $50K

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

BTCS Now Producing Revenue from all 100 Ethereum 2.0 Nodes

March 8, 2021

Router Protocol and Polygon Partners With DFyn to Launch L2 GalaxyFarm

March 8, 2021

Get the Latest Crypto News, Trends and Insights at Interactivecrypto

March 8, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Buy Silver

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.