TL;DR Breakdown Bitcoin Cash price is expected to fall to $660BCH faces resistance at the $700 markThe closest support level lies at $670 The Bitcoin Cash price climbed above the $700 mark yesterday but failed to maintain a support level above the mark and has fallen back towards the $670 mark. Currently, the $675 level provides support to BCH, but the rising selling pressure suggests further downwards movement. The broader cryptocurrency market observes a mixed market sentiment over the last 24-hours as most major cryptocurrencies record minor movements. Major players include Cardano that recorded a 5.7 percent increase, and Avalanche, recording a 9.85 percent decline. Technical indicators for BCH/USDT: Price falling back to $675 Technical indicators for BCH/USDT by Tradingview Across the technical indicators, the MACD is bullish, as expressed by the green histogram. However, the bulls have seen a declining momentum in the last 24 hours as the Bitcoin Cash price faced rejection from the $700 mark. However, as the bulls hold above the $675 level, the indicator has not yet crossed to the bearish region. The EMAs have begun moving downwards, but the 12-EMA is still above the 26-EMA, showing buyer activity at the level. However, the indicator would soon observe a bearish crossover due to the selling pressure. The RSI is currently neutral and trades close to the mean level at the 50.00 index level. The in...
