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Bitcoin cash price struggled to gain momentum in order to move over the $138 and $140 resistance levels. BCH reached a high of $139 before a fresh decline.The price fell sharply below the $135 and $130 support levels. The bears pushed the price down to $125 and the 55 simple moving average. The decline has continued below the $120 level. Finally, the price has dropped to $110.81.<a href="https://www.coingabbar.com/en/crypto-currency/bitcoin-cash-bch-prices-usd" rel="noopener noreferrer nofollow">Bitcoin Cash</a> is currently consolidating and struggling to stay below $120. On the upside, an immediate resistance level is approaching $118. It is close to the 23.6% Fib retracement level of the decline from the $139 swing high to the $111 low.According to price analysis, The first significant resistance is near $120 and the 55 simple moving average. On the 4-hours chart of the BCH/USD pair, a major bearish trend line is forming with resistance near $124.The main resistance is situated near $125. It is close to the 50% Fib retracement level of the fall from the $139 swing high to the $111 low. Any more gains above $124 and $125 could set the basis for a move above $130.If the price moves over the $130 barrier, it may move towards the $140 zone. On the downside, there is immediate support at $112. The next key support is at $110, below which the bears may go for $105. Their next target could be around the $100 level.According to the chart, the price of bitcoin cash is presently trading below the $130 level and the 55 simple moving average. Overall, the price is sensitive to further declines below the $112 and $110 support levels.KEY LEVELS :RESISTANCE LEVEL : $120-$125SUPPORT LEVEL : $112-$107Get more crypto related updates on :-<a href="https://www.coingabbar.com/en/crypto-news-english" rel="noopener noreferrer nofollow"> https://www.coingabbar.com/en/crypto-news-english</a>

Cryptocurrency price update: BITCOIN CASH PRICE ANALYSIS : Head and Shoulder pattern provides support for BCH

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