Bitcoin Cash Falls Below Key Support After a Heavy Nosedive

Bitcoin Cash has slipped below 205 USD and shown an overall loss of 4.42%. It has been through three major price variations in the range between 216 USD and 203 USD. Bitcoin Cash may not be able to get a recovery trend anytime soon.

Bitcoin Cash Price Analysis

Bitcoin Cash was being traded at 214.10 USD at the opening of the day, and its first price variation happened between 00:34 UTC and 11:57 UTC. Over these 11 and half hours, BCH dropped by 2.20%, losing 4.76 USD and got placed at 211.44 USD. It was followed by a 1.47% hike that added 3.11 USD to the coin and pushed it to 214.46 USD by 18:53 UTC. The last variation happened over the next 6 hours and 6 minutes from 18:53 UTC, and in these hours, BCH was brought down to 203.57 USD.

Bitcoin Cash’s market cap has witnessed an immense dip over these hours. It was at 3.862 billion USD on December 3, and now it has fallen to 3.768 billion USD.

BCH Price Prediction:

BCH’s 20 days average stands at 204.95 USD and its 50 days average is now at 205.05 USD. The current price of BCH at 204.62 USD is 0.20% and 0.16% less than the 50 days average and 20 days average, respectively. The upcoming days for Bitcoin Cash are likely to be full of struggles. BCH may find the next halt at 216.14 USD as its next resistance.

Resistance and Support Levels-