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.

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.

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.

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