Bitcoin Cash (BCH) Continues Its Bearish Run, as Bears Gain More Grounds
Login

Bitcoin Cash (BCH) Continues Its Bearish Run, as Bears Gain More Grounds

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Highlights
BCH revisit the previous low at $467
The altcoin is in a strong selling pressure

Bitcoin Cash (BCH) Current Statistics
The current price: $496.96
Market Capitalization: $12,016,976,460
Trading Volume: $1,945,905,470
Major supply zones: $700, $720, $740
Major demand zones: $250, $230, $210

Bitcoin Cash (BCH) Price Analysis June 21, 2021
Bitcoin Cash (BCH) is in a downward move. The altcoin has fallen and it is approaching the previous low of May 23. On May 23, the market reached a low of $467.8. Today, BCH has fallen to the low of $482. The altcoin is likely to retest the previous low at $467. Nevertheless, the selling pressure will resume if price breaks the previous low.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
The crypto’s price has broken below the resistance line of the descending channel. This implies that the selling pressure is likely to resume. BCH has fallen to level 32 of the Relative Strength Index period 14. It indicates the crypto has reached the oversold region of the march. The crypto’s price is below the 21-day and 50-day SMAs which suggests that the altcoin is in the bearish trend zone.

BCH/USD – 4 Hour Chart

Conclusion
Bitcoin Cash is in a downward move. The current price fall was after the rejection at $559 high. On June 20 downtrend, a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that BCH will fall to level 2.618 Fibonacci extension or level $401.06.


You can purchase crypto coins here: Buy Tokens

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News