Bitcoin Cash (BCH) Price Analysis: BCH Revisits Previous Low at $203, an Upward Move Likely

Bitcoin Cash (BCH) Price Analysis: BCH Revisits Previous Low at $203, an Upward Move Likely

Key Highlights
BCH range-bound levels of  $200 and $240 are unbroken
The price revisits the previous lows and pulled back

Bitcoin Cash (BCH) Current Statistics
The current price: $209.45
Market Capitalization: $3,880,254,270
Trading Volume: $1,310,657,763
Major supply zones: $325, , $350,$375
Major demand zones: $200, $175, $150

Bitcoin Cash (BCH) Price Analysis September 24, 2020
There has been no significant price movement at the time of writing. The range-bound levels of between $200 and $240 have remained unbroken. A breakdown below $200 will propel the coin to trend lower. On the other hand, a breakout above $240 will signal the resumption of upside momentum. Today, BCH is trading at $209 at the time of writing.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
The BCH price faces rejection at the 12-day EMA. It indicates a downward movement of prices. BCH is approaching the support line of the descending channel. The crypto is at level 35 of the Relative Strength Index period 14. It indicates that the coin is close to the oversold region of the market.

BCH/USD – Daily Chart

Conclusion
The crypto has been trading marginally. The key levels of the market have remained unbroken. The Fibonacci level of 1.272 extension or $188 low will be achieved if price breaks below the $200 support. Alternatively, if the support holds, it indicates that the coin is likely to rise.


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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.