Bitcoin Cash Price Prediction: BCH Breaks Below The $450 Psychological Level

Last Updated July 23rd 2021
2 Min Read

Daily Bitcoin Cash BCH Technical Analysis
  • Bitcoin Cash price has flipped the $470 line from support to resistance.
  • The MACD has reversed from bullish to bearish.

Since February 20th, the Bitcoin Cash price has dropped dramatically from $720 to $445. Due to this drop in BCH, the parabolic SAR has reversed from bullish to bearish, showing that the current market sentiment is negative.

Bitcoin Cash Price Plummets Down

The Bitcoin Cash price has broken below the $470 level today. Over the last week, BCH had flipped the 20-day SMA from support to resistance. The relative strength index (RSI) is trending horizontally along the oversold zone.

bch/usd daily chart 030121

Image: BCH/USD daily

On the downside, there are two healthy support barriers at $430 and $400. Previously at $430, 105,000 addresses had purchased over 300,000 BCH tokens. A further break below tasks BCH down to $400.

bch/usd volume chart 030121

Image: IntoTheBlock

The MACD in the 4-hour Bitcoin Cash price chart has reversed from bullish to bearish so further drop may be in order. However, do note that the TD sequential is about to flash the buy signal in the form of a red-nine candlestick.

bch/usd 4-hour chart 030121

Image: BCH/USD 4hour

Bitcoin Cash Price Is Expected To Reach These Levels

Bitcoin Cash price is expected to drop to the $430 support barrier as the bears remain in full control.