Bitcoin Cash (BCH) Price Analysis: BCH Slumps To $692 Low, Faces Another Rejection At $815

Bitcoin Cash (BCH) Price Analysis: BCH Slumps To $692 Low, Faces Another Rejection At $815

Key Highlights “
BCH has fallen from the high of $1.200 to $809
The altcoin is likely to further decline on the downside

Bitcoin Cash (BCH) Current Statistics
The current price: $810.21
Market Capitalization: $17,031,240,520
Trading Volume: $3,803,633,907
Major supply zones: $700, $720, $740
Major demand zones: $250, $230, $210

Bitcoin Cash (BCH) Price Analysis April 26, 2021
Bitcoin Cash has been in a downward move since its rejection on April 17. BCH has fallen to the low of $807 and it is correcting upward. The altcoin price has broken the 21-day SMA. The downward movement will resume if price breaks below the previous at $700. On the upside, if buyers push BCH above $900, the upward move will resume. Otherwise, the downtrend will resume on the downside.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
The crypto’s price has broken below the 21-day SMA. The coin will fall into the bearish trend zone if price breaks below the 50-day SMA. BCH has fallen to level 53 of the Relative Strength Index period 14. This indicates that the coin is still in the uptrend zone and capable of rising on the upside.

BCH/USD – 4 Hour Chart

Conclusion
On the 4 Hour Chart, BCH is in a downward move. The crypto’s price has broken below the SMAs which suggests a downward movement of prices. Presently, the altcoin is facing rejection at the resistance of $815. Meanwhile, on April 18 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that BCH will fall to level 2.0 Fibonacci extension or the low of $427.31.

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.