• On June 27, the bulls were resisted and BCH market was on a downward correction to a low of $411.
• Last week the BCH market tested the $520 price level but was range bound at the $480 price level.

BCH /USD Medium-term Trend: Bearish

• Resistance Levels: $480, $500, $520
• Support Levels: $460, $440, $420

Last week the price of BCH was in a bullish trend. The BCH market tested the $520 price level but was range bound at the $480 price level. On June 27, the bulls were resisted and BCH market was on a downward correction to a low of $411. The bulls made an attempt to pull above the EMAs but were repelled.

The coin’s price is below the EMAs which suggest that price is likely to continue its fall. From the Fibonacci tool, the crypto’s price fell in the 0.786 Fib.retracement level. The market is in a downtrend zone and the current trend is assumed to be terminated. Nevertheless, the BCH market is in the oversold region of the daily stochastic but below 40% range. This indicates that price is in a bearish momentum and sell signal.

BCH/USD Short-term Trend: Bearish

On the 1-hour chart, the price of BCH is in a bearish trend. The 12-day EMA and the 26-day EMA are trending southward indicating that price is falling. On June 30, the bulls tested the $450 price level but were resisted.

The bears broke below the EMAs to reach the low at $ 400. The support at $400 is holding as the bulls make an upward move above the EMAs. Meanwhile, the BCH market is in the overbought region of the daily stochastic but below the 60% range. This indicates that price is in a bearish momentum and sell signal.

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