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

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RESULTS

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.

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.

Conclusion
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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