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

22 March 2021 | Updated: 22 March 2021

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

Conclusion
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.

You can purchase crypto coins here: Buy Coins

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
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

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
9.8
  • 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
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
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.