Bitcoin Cash (BCH) Price Analysis: BCH Faces Stiff Resistance at $440 as Bears Threaten to Short

2 February 2021 | Updated: 2 February 2021

Key Highlights
BCH faces rejection twice at the $440 resistance
BCH is currently fluctuating between $390 and $440

Bitcoin Cash (BCH) Current Statistics
The current price: $415.56
Market Capitalization: $8,698,668,309
Trading Volume: $5,419,087,295
Major supply zones: $700, $720, $740
Major demand zones: $250, $230, $210

Bitcoin Cash (BCH) Price Analysis February 1, 2021
For the past four days, the bulls have retested the $440 resistance but were repelled. On Each retest, the price will fall to $390 low and the upward move will resume. The crypto is now fluctuating in a tight range between $390 and $440. BCH is facing stiff resistance at $440. On the downside, if the coin falls and breaks below $390, BCH will decline to $280. Similarly, if buyers can push the coin above $440, a rally to $540 is likely.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
The bears have broken below the SMAs as bulls attempt to pullback. BCH has fallen into the bullish trend zone which makes it prone to further decline. The coin is at level 43 of the Relative Strength Index period 14. BCH is still in the downtrend zone and is capable of falling.

BCH/USD – Daily Chart

BCH is still falling and in a downward move. Meanwhile, on January 21 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that BCH is likely to fall to level 1.272 Fibonacci extensions. That is, BCH will fall to a low of $342.09 and reverse. BCH will reverse to 78.6% Fibonacci retracement level where it originated.

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
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.