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    Bitcoin Cash price analysis: testing range six-month low

    By Nathan Batchelor

    13:25, 23 September 2020

    Bitcoin Cash price analysis

    Bitcoin Cash is on the verge of a technical breakdown, as the cryptocurrency probes towards critical monthly support.

    Bitcoin Cash price analysis shows that the cryptocurrency is at risk of moving into a much lower medium-term trading range.

    Bitcoin Cash medium-term price trend

    Bitcoin Cash is among the weakest of the top coins, with the BCH/USD pair close to turning into negative territory for the year.

    Bitcoin Cash technical analysis shows that the BCH/USD is at risk of falling towards the $120 support region.

    Bitcoin Cash has been trapped inside the $200 to $280 price range for the majority of the year. Any rallies above this key trading range have quickly been sold.

    According to the technical analysis, a bearish breakout under the $200 level could see the BCH/USD falling into a lower price range, between $110 and $150.

    It is noteworthy that while the $200 support barrier continues to hold, a counter rally towards the $280 area still remains possible.

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    ETH/USD

    3,030.58 Price
    -1.550% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 21:00 (UTC)
    Spread 6.00

    Gold

    2,375.32 Price
    -0.350% 1D Chg, %
    Long position overnight fee -0.0193%
    Short position overnight fee 0.0110%
    Overnight fee time 21:00 (UTC)
    Spread 0.40

    XRP/USD

    0.50 Price
    +0.570% 1D Chg, %
    Long position overnight fee -0.0753%
    Short position overnight fee 0.0069%
    Overnight fee time 21:00 (UTC)
    Spread 0.01168

    US100

    17,576.90 Price
    -0.850% 1D Chg, %
    Long position overnight fee -0.0262%
    Short position overnight fee 0.0040%
    Overnight fee time 21:00 (UTC)
    Spread 1.8

    Bitcoin Cash short-term price trend

    Bitcoin Cash technical analysis shows that the cryptocurrency has a short-term bearish bias while the price trades under the $240 resistance level.

    The four-hour time frame shows that a bearish head-and-shoulders pattern has recently formed, following the sharp downward reversal from the $240 area.

    According to the size of the bearish price pattern, Bitcoin Cash could decline by $35 if the $205 level is broken.

    If buyers are able to move the BCH/USD pair back above $240, then a counter-rally towards the $275 level may be forthcoming.

    Bitcoin Cash technical summary

    Bitcoin Cash technical analysis shows that the cryptocurrency is at serious risk of breaking the technically important $200 support level.

    Markets in this article

    BCH/USD
    Bitcoin Cash / USD
    481.80 USD
    -4.25 -0.880%

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