{"id":138111,"date":"2021-09-08T11:42:04","date_gmt":"2021-09-08T11:42:04","guid":{"rendered":"https:\/\/precoinnews.com\/?p=138111"},"modified":"2021-09-08T11:42:04","modified_gmt":"2021-09-08T11:42:04","slug":"bitcoin-cash-hovers-above-640-as-sellers-threaten-to-resume-the-downtrend","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-cash-hovers-above-640-as-sellers-threaten-to-resume-the-downtrend\/","title":{"rendered":"Bitcoin Cash Hovers above $640 as Sellers Threaten to Resume the Downtrend"},"content":{"rendered":"
Bitcoin Cash (BCH) is in a downtrend as the altcoin fell to a low of $582. Today, the altcoin has risen to $655 as bulls have bought the dips.<\/strong><\/p>\n In the last 48 hours, BCH has been fluctuating above the $640 support after the breakdown. Meanwhile, BCH has been moving in a range between $640 and $680. Buyers and sellers are still undecided on what to do next after the recent breakdown. If the bulls break through $680 resistance to the upside, it would signal a resumption of the uptrend. If the bears break below support at $640, the market will decline. It is possible that the downtrend will continue to the downside. Currently, Bitcoin Cash is moving in a narrow range as the bulls resume their upward movement.<\/p>\n BCH has fallen to the 48 level on the Relative Strength Index for period 14. The cryptocurrency is in a downtrend area and below the midline 50. The altcoin is above the 25% range of the daily stochastic. This suggests that BCH is in a bullish momentum as the market consolidates above the current support.<\/p>\n <\/p>\n Major Resistance Levels – $1,800 and $2,000 <\/b><\/p>\n <\/b><\/p>\n Major Support Levels – $600 and $400<\/b><\/p>\n After the recent breakdown, BCH has resumed its trading range above $640 support. Buyers and sellers are undecided on where to go from here as the altcoin continues to fluctuate above the current support.<\/p>\n <\/p>\n Disclaimer. This analysis and forecast are the personal opinions of the author and are a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their own research before investing funds.<\/span><\/i><\/p>\nBitcoin Cash indicator reading<\/h2>\n
Technical indicators: <\/h3>\n
What is the next move for Bitcoin Cash?<\/h2>\n