Bitcoin Cash Price (BCH) Tumbles 35% In A Harsh Crypto Market Crash


Today, the crypto market crashed, with a strong decline in bitcoin cash below $250.00 and $200.00. BCH to USD is down more than 35% and it is now trading well below the $200.00 support.

Key Takeaways: BCH/USD

  • Bitcoin cash price is down more than $100.00 and it broke the key $200.00 support against the US Dollar.
  • BCH/USD dived below a major declining channel with support near $247.50 on the 2-hours chart (data feed from Bitstamp).
  • Bitcoin is also down more than 25% and it broke the $6000 support area.

Bitcoin Cash Price Analysis

Today, it was a bad day for most traders as the crypto market crashed more than 25%, including bitcoin cash price, ethereum and XRP. BCH/USD broke many supports near $250.00 and $200.00 to enter a bearish zone.

Bitcoin Cash Price

Looking at the 2-hours chart, bitcoin cash price gained bearish momentum after it settled below the $250.00 support area and the 50 simple moving average (2-hours, purple).

More importantly, the price dived below a major declining channel with support near $247.50 on the same chart. It opened the doors for more losses below the $200.00 support.

The price is down more than 35% and it even broke the $180.00 level. A new multi-month low was formed near the $166.83 level and the price is currently trading in a nasty downtrend. An initial resistance is near the $191.40 level since it is close to the 23.6% Fib retracement level of the recent dive from $270.81 to $166.83.

The first major resistance is near the $200.00 handle, above which the price correct towards the $220.00 level. The 50% Fib retracement level of the recent dive from $270.81 to $166.83 is also near the $218.82 level.

Conversely, the price might continue to move down below the $166.00 and $165.00 levels. In the mentioned case, bitcoin cash price could even test the $150.00 support area in the near term.

Any further losses could lead BCH price towards the $132.00 and $125.00 support levels. Overall, the market is super red and it could dive further.

Live Bitcoin Cash (BCH) Price:

1 BCH/USD =$1,472.6227 change ~ -0.22%

Coin Market Cap

$27.59 Billion

24 Hour Volume

$2.15 Billion

24 Hour VWAP

$1.38 K

24 Hour Change

$-3.30

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