Can Bitcoin Cash Price Reclaim $500 or is $400 Next?
The technical landscape for Bitcoin Cash is currently defined by a “consolidation in a bearish trend.” Prices have stabilized in the mid-$450s after rejecting strongly from the $540.80 high earlier in the month.
Immediate support sits dangerously close at the $451.66-$455.47 range. A confirmed daily close below this zone opens the door to the next major defensive line at $433.43, with a bearish invalidation target potentially as low as $400-$420.
However, it isn’t all gloom. The Relative Strength Index (RSI) is flashing oversold signals on shorter timeframes, often a precursor to a relief bounce. Furthermore, despite the current slump, several analysts maintain aggressive upside targets.
BCH
461.7
-0.94%