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Latest Bitcoin Cash price and analysis (BCH to USD)

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#1
At the time of writing, Bitcoin Cash (BCH) is trading at around $243.
Last month, the popular altcoin was showing signs that it would drop further following huge losses at the end of September. BCH instead rebounded spectacularly towards the end of October in response to Bitcoin’s positive momentum.
However, just yesterday, the crypto market tumbled again.
BCH has now lost almost 19% in value since last week and is down about 8% over the last 24 hours.
Will BCH continue to push lower? And if so, what are the next levels of support to look out for?
Let’s take a look at the chart for Bitcoin Cash.


[Image: Xyxf9vQE]
As you can see from the chart above, the price of BCH recovered during early September before crashing around 45% in the second half of the month.
The gains of mid-September were lost and the price came crawling back down to below $230 in October as the huge market-wide meltdown hit the coin hard. At its lowest point over the past month, BCH touched $200 before recovering almost immediately.
BCH then spiked from around $200 to $300 in the space of a few days, representing a 50% jump.
Last week, I claimed it was probable that BCH would start seeing some positive momentum as the price was recording higher lows. However, it turns out I was wrong on this one.
The market has instead been tumbling since yesterday after BTC dropped over 5% in the space of a few hours.
Bitcoin Cash is now trading below all its EMAs. The next support level is found near $225, with a steep drop to $170 below that.
For the time being, I expect BCH to trade below its EMAs for a while and to attempt to recover towards the 200-day EMA – even though the market is showing no signs of a recovery just yet.
Right now, volume sits at just above $2 billion – around half of what it was last week.

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