Bitcoin Cash (BCH) Price Analysis: BCH Falls To $510 Support, May Resume Range-Bound Move


Key Highlights “
Bitcoin Cash falls to the lower price range at $510
The altcoin may find support and commence the range-bound move

Bitcoin Cash (BCH) Current Statistics
The current price: $522.63
Market Capitalization: $10,975,119,305
Trading Volume: $1,890,375,118
Major supply zones: $700, $720, $740
Major demand zones: $250, $230, $210

Bitcoin Cash (BCH) Price Analysis March 22, 2021
BCH is falling after being repelled at the $550 resistance on March 20. Today, the crypto has reached the low of $517. There is a likelihood of a further downward move. Presently, BCH is range bound between $510 and $550. On the downside, if price finds support above $510, the upward move will resume on the upside. On the other hand, if the bears break the $510 support, the market will decline to $480 low. The range-bound move will resume if price finds support above $510.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
The crypto’s price has broken below the moving averages which indicate a possible downward move of the coin. BCH has fallen above the 25% range of the daily stochastic but the bands are sloping horizontally. It indicates that the price momentum has been stagnant.

BCH/USD – 4 Hour Chart

Bitcoin Cash has fallen and it is approaching the lower price range. On March 21 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that BCH is likely to rise to level 1.272 Fibonacci extension or the low of $506.41.

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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.