Bitcoin Cash Fluctuates Between $200 And $280: Price Analysis

Bitcoin Cash fluctuates between the price ranges of $200 and $280 since the start of April as we reported in the Bitcoin Cash news.

During the first movement to the peak price, Bitcoin Cash was in overbought territory as the market slumped to $200. The bulls successfully attempted to break the overhead resistance but the cryptocurrency dropped to the $250 support. BCH rebounded above the $250 price level but the $280 resistance still remains unbroken.

The bulls and bears resorted to the range-bound movement between these two price levels as the sellers had the upper hand and the coin traded below the $250 resistance. The cryptocurrency will decrease further to $200 low if the selling pressure continues. If the bulls push above the $250 resistance, a retest of the overhead resistance level could happen. BCH has been on the downward move after it failed to break the $280 resistance. The cryptocurrency was trading below 60% of the daily stochastic indicator after the downward move. From the price action, the market showed some bearish signals.

The major key resistance zones for Bitcoin Cash (BCH) are the $440, $480, and the $520 zone. The key support zones include the $200, $480, and the $120 zone. The bulls weren’t able to break the $280 resistance which is why Bitcoin Cash fluctuates between the two levels. As the price is lower than the EMAs, the bears will be able to push the BCH price lower. If the price gets above the EMAs, the bulls may need to retest the overhead resistance in order to break it.

Only three days ago as reported in the BCH news, Bitcoin Cash jumped into the 4-hour candle at $250 in USD which means that it jumped by 2% from the previous four hours. BCH jumped up ranking second for the four-hour candle in regards to price change compared to the previous 4 hours. Bitcoin Cash closed the previous day increasing by $6.27 which denotes the second consecutive day upward movement. The move happened during the lower volumes as the volume of yesterday was down 40% from the previous day and down by 24% from the same day one week ago.