BCH/USD daily chart

BCH/USD daily chart

Gate Trade BCH Saturday, June 20, 2020 1094 0

Bitcoin Cash (BCH) turned down from the moving averages on June 17. The bears are currently attempting to sink the price to the support at $217.55. If this support cracks, the decline can extend to $200.

 

Conversely, if the fifth-ranked cryptocurrency on CoinMarketCap turns up from the current levels, the bulls will try to push it back above the moving averages. If successful, a move to $255.46 is possible.

 

If the BCH/USD pair turns down from this level, the range-bound action is likely to extend for a few more days. However, if the bulls can propel the pair above $255.46, a rally to $280.47 is likely. This is a critical resistance because above this, the rally can extend to $350.