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The post <a href="https://coinpedia.org/price-analysis/bitcoin-cash-price-bleeds-15-will-bch-price-reclaim-300-soon/">Bitcoin Cash Price Bleeds 15%! Will BCH Price Reclaim $300 Soon?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The crypto industry has witnessed a significant correction in its valuation as the market leader, <a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> has recorded a correction of over 7% in its portfolio. Following in the footsteps, the Bitcoin Cash price has recorded a bearish move over the past day. 
The BCH price traded in a closed range between $226.6 and $238.5 for almost two weeks, following which the market gained momentum and the price jumped over 20% during the next few days. 
After facing rejection at $273, the <a href="https://coinpedia.org/price-prediction/bch-bitcoin-cash-price-prediction/">Bitcoin Cash price</a> recorded a correction of approximately 8% in valuation. However, the bulls held the price strong above the support level of $251.3, resulting in a bounceback in the chart. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/5_iEFGZOIWDsHmn677AX1C_PSRnLWYTY5QOFQ51y_ptSjoeGMQqfXCxgwS6EjelchHckU9Cn4PIjBPmUgm4T2v8xVyg2XHe9lwjg1kpMtZOvVtT7H1FJN13_41lINN0xVlhP_pw1KmpTlBsG4WJhtjE" alt="Bitcoin Cash Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: BCH/USDT
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</figure> 
The price then faced rejection at $284.5, following which the coin started trading under a bearish influence and recorded a low of $226.6. After this, the price traded sideways in a closed range between $226.6 and $238.5 for a while. 
Following this, the price gained just enough momentum to break out of the range where the price displayed a neutral trend for a while. Recently, the BCH price recorded a jump of 23.5%, after which the price faced rejection at $294.6. 
Since then, the price has been trading under a bearish influence and has recorded a correction of 14.96% in valuation. 
<h2 class="wp-block-heading" id="h-will-bch-price-go-back-up">Will BCH Price Go Back Up?</h2> 
The technical indicator, MACD, displays a rising red histogram, indicating an increase in the selling-over-buying pressure in the market. Further, the averages show a bearish convergence, highlighting a strong bearish influence in the crypto space. 
If the bulls push the price above the resistance level of $261, the BCH price will regain momentum and run to test its upper resistance level of $273. Maintaining the price at that level will set the stage for the Bitcoin Cash price to attempt to test its resistance level of $284.5 during the coming week. 
Conversely, if the bears overpowered the bulls, the price will lose momentum and fall to test its support level of $251 soon. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $238.5 by the coming time.

Bitcoin Cash Price Bleeds 15%! Will BCH Price Reclaim $300 Soon?

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