Bitcoin Cash Continues to Fall and May Slide into the Range Bound Zone

Bitcoin Cash Indicator Reading 

Bitcoin Cash is retracing to the 26-day EMA. If the 26-day EMA holds, the price will appreciate upwards. On the other hand, the coin will depreciate, if the 12-day EMA and the 26-day EMA are broken. BCH is also below the 50% range of the daily stochastic. This gives the impression that the price is in a bearish momentum.

Key Supply Zones: $320, $360, $400

Key Demand zones: $200, $160, $120                                                             

What is the Next Direction for Bitcoin Cash?

The direction of BCH is dependent on the price at $273 or 26-day EMA whether it is holding. The point is that the market will rise if these levels hold. Nevertheless, the only condition for the downward move is when these levels are broken and the bears have free passage to the previous low.

Disclaimer. This analysis and forecast are the personal opinions of the author are not 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.