TL;DR Breakdown Bitcoin Cash price analysis suggests downwards movement to $580The closest support level lies at $610BCH faces resistance at the $650 mark The Bitcoin Cash price analysis shows that the bears dominate the asset’s price action as BCH continues its downwards movement. On the other hand, the market volatility and the recorded trade volumes have shown a significant decline in the past few days compared to the start of September. The broader cryptocurrency market observes a bearish market sentiment over the last 24-hours as most major cryptocurrencies record negative price movements. Major players include Elrond and EOS recording a 6.89 and a 6.42 percent decline respectively. Bitcoin Cash price analysis: Bears dominate the market Technical indicators for BCH/USDT by Tradingview Across the technical indicators, the MACD is currently bearish as exhibited by the red histogram showing seller dominance at press time. The indicator observed a bearish crossover two days ago and has remained red since. However, the recent hours have observed a declining in bearish momentum as BCH finds short-term support at the $610 mark. The EMAs are currently moving downwards showing strong selling activity in the markets. The 12-EMA is currently moving with a steeper slope suggesting further divergence from the 26-EMA. The RSI has remained neutral for the last ten days since briefly dipping to overbought region ...
