Bitcoin Cash (BCH) Price Analysis: BCH Critical Support at $200 Holds as Bulls and Bears Continue Price Tussles


Key Highlights
BCH is range bound between $200 and $240
BCH may drop to $170 if the $200 support cracks

Bitcoin Cash (BCH) Current Statistics
The current price: $228.42
Market Capitalization: $4,228,779,458
Trading Volume: $2,172,838,456
Major supply zones: $325, , $350,$375
Major demand zones: $200, $175, $150

Bitcoin Cash (BCH) Price Analysis September 10, 2020
Today, BCH is trading at $228 at the time of writing. On September 1, Buyers were attempting to push BCH to the $300 high before they were repelled. On September 3, the coin plunged to $203 low and resumed consolidation above the current support.

At the time of writing, BCH is still fluctuating between $200 and $240. Since March, the current support has not been broken. On the downside, if the bears break the current support, the market will fall to $170 low. On the upside, the bulls must push BCH price above $260, for the resumption of the upside momentum. As of now, price is range bound between $200 and $240.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
BCH is above 20% range of the daily stochastic. It indicates that the coin is in a bullish momentum. However, the stochastic bands are horizontally flat. BCH is likely to fall as price is below the EMAs.

BCH/USD – Daily Chart

For the past week, price has been consolidating above the $200 support. According to the Fibonacci tool, a retraced candle body tested the 78.6% Fibonacci retracement. It indicates that BCH will fall to the 1.272 Fibonacci extension level once $200 support cracks. Thereafter, the market will reverse.

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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.