Bitcoin Cash

Bitcoin

Resistance

Bitcoin Cash price extended losses and traded below the $450 support. BCH is consolidating and might start a recovery wave if there is a move above $440. 
<ul> 
 <li>Bitcoin cash price started a fresh decline below the $440 support.</li> 
 <li>The price is trading below $440 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bearish trend line forming with resistance at $438 on the 4-hour chart of the BCH/USD pair (data feed from Kraken).</li> 
 <li>The pair could start a decent upward move if it clears the $440 resistance zone.</li> 
</ul> 
<h2 id="bitcoin-cash-price-revisits-support">Bitcoin Cash Price Revisits Support</h2> 
In the past few days, there has been a steady decline in Bitcoin Cash price like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-bearish-60k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-takes-hit-2865/" target="_blank" rel="noopener ">Ethereum</a>. BCH declined below the $450 and $440 support levels to move into a short-term bearish zone. 
A low was formed at $421 and the price is now consolidating losses. There was a minor move above the $430 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $457 swing high to the $421 low. 
Bitcoin cash price is still trading below $440 and the 100 simple moving average (4 hours). Immediate resistance on the upside sits near the $438 level. There is also a key bearish trend line forming with resistance at $438 on the 4-hour chart of the BCH/USD pair. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/05/Bitcoin-Cash.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-607685" src="https://www.newsbtc.com/wp-content/uploads/2024/05/Bitcoin-Cash.png?resize=1024%2C461" alt="Bitcoin Cash Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/05/Bitcoin-Cash.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/05/Bitcoin-Cash.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/05/Bitcoin-Cash.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/05/Bitcoin-Cash.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/05/Bitcoin-Cash.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/05/Bitcoin-Cash.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/05/Bitcoin-Cash.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/BCHUSD/" target="_blank" rel="noopener nofollow">BCH/USD on TradingView.com</a> 
The trend line is close to the 50% Fib retracement level of the downward move from the $457 swing high to the $421 low. A clear move above the $440 resistance might start a decent increase. The next major resistance is near $4502, above which the price might accelerate higher toward the $465 level. Any further gains could lead the price toward the $480 resistance zone. 
<h2 id="fresh-drop-in-bch">Fresh Drop in BCH?</h2> 
If Bitcoin Cash price fails to clear the $438 resistance, it could start a fresh decline. Initial support on the downside is near the $425 level. 
The next major support is near the $420 level, where the bulls are likely to appear. If the price fails to stay above the $420 support, the price could test the $400 support. Any further losses could lead the price toward the $384 zone in the near term. 
Technical indicators 
4-hour MACD – The MACD for BCH/USD is losing pace in the bearish zone. 
4-hour RSI (Relative Strength Index) – The RSI is currently in near the 50 level. 
Key Support Levels – $425 and $420. 
Key Resistance Levels – $440 and $450.

Bitcoin Cash Price At Make-Or-Break Moment, Key Levels To Watch

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