Bitcoin Cash Price Analysis: BCH/USD Remains At Risk Below $450 ByAayush JindalPRO INVESTOR Last Updated: 14 August 2021 Key Points Bitcoin cash price struggled to recover and it is currently moving lower against the US Dollar. Yesterday’s highlighted key bearish trend line is intact with resistance at $440 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair could break to the downside below $434 if there is no break above $440 and $445. Bitcoin cash price remains at a risk below $450 against the US Dollar. BCH/USD must break the $440 and $445 resistances to recover in the near term. Bitcoin Cash Price Analysis After trading as high as $445, bitcoin cash price started a downside move against the US Dollar. The BCH/USD pair traded towards the $430 support area and formed a low near $434. Later, there was a minor upside recovery above the $435 level. The price moved above the 23.6% Fib retracement level of the last drop from the $445 high to $435 swing low. However, upsides remained capped by the $440 and $445 resistance levels. Buyers failed to surpass the $440 resistance zone. More importantly, yesterday’s highlighted key bearish trend line is intact with resistance at $440 on the hourly chart of the BCH/USD pair. Besides, the 50% Fib retracement level of the last drop from the $445 high to $435 swing low is also near $440. Therefore, a break above the $440 resistance is needed for a short term recovery. The next main resistances on the upside are near the $445 and $450 levels. On the downside, the $430 and $434 levels are important supports. Below these supports, the price could drop towards the $400 level. Looking at the chart, BCH price is clearly in a downtrend as long as there is no upside break above the $440 and $450 levels. Looking at the technical indicators: Hourly MACD – The MACD for BCH/USD is currently in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is placed below the 50 level. Major Support Level – $434 Major Resistance Level – $440 The post Bitcoin Cash Price Analysis: BCH/USD Remains At Risk Below $450 appeared first on NewsBTC.