{"id":158362,"date":"2022-05-27T07:03:35","date_gmt":"2022-05-27T07:03:35","guid":{"rendered":"https:\/\/precoinnews.com\/?p=158362"},"modified":"2022-05-27T07:03:35","modified_gmt":"2022-05-27T07:03:35","slug":"bitcoin-cash-analysis-risk-of-more-losses-below-170","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-cash-analysis-risk-of-more-losses-below-170\/","title":{"rendered":"Bitcoin Cash Analysis: Risk of More Losses Below $170"},"content":{"rendered":"
Bitcoin cash price is struggling below $215 against the US Dollar, similar to bitcoin. BCH\/USD could start a fresh decline if it stays below $215.<\/em><\/p>\n Bitcoin cash price made a few attempts to gain strength above $220 and $225. However, BCH failed to gain pace and started a fresh decline below the $205 level.<\/p>\n There was a move below the $200 level and the 55 simple moving average (4-hours). The price even traded below the $180 support and formed a low near $172. It is now consolidating losses above the $175 level. On the upside, the price is now facing resistance near the $185 level.<\/p>\n There is also a major bearish trend line forming with resistance near $188 on the 4-hours chart of the BCH\/USD pair. The trend line is near the 23.6% Fib retracement level of the recent decline from the $236 swing high to $172 low.<\/p>\n The next major resistance is near the $205 level. It is near the 50% Fib retracement level of the recent decline from the $236 swing high to $172 low. The main hurdle sits near the $215 level. A clear break above $205 and $215 might send the price towards the $240 barrier.<\/p>\n Any more gains above $240 could set the pace for a larger increase. The next major hurdle is near the $260 level. An immediate support on the downside is near the $172 zone.<\/p>\n The next major support is near the $166 level, below which the bears might gain strength. The next target for them may perhaps be near the $150 level.<\/p>\n <\/p>\n Bitcoin Cash Price<\/p>\n Looking at the chart, bitcoin cash price is now trading below the $215 zone and the 55 simple moving average (4-hours). Overall, the price might start a decent increase if there is a clear move above the $215 resistance.<\/p>\n 4 hours MACD \u2013 The MACD for BCH\/USD is slowly losing pace in the bearish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for BCH\/USD is now near the 40 level.<\/p>\n Key Support Levels \u2013 $172 and $166.<\/p>\n Key Resistance Levels \u2013 $205 and $215.<\/p>\nBitcoin Cash Price Analysis<\/h2>\n
Technical indicators<\/h2>\n