Bitcoin Cash is facing increasing selling pressure due to the bearish sentiment currently in the industry. BCH/USD has declined below the $125 and $120 support levels. If the bears remain in action, the price could slide further towards the $100 level. On the upside, the main resistance is near the $124 or the 50% Fib retracement level of the key drop from the $136.18 swing high to the $111.66 low. To start a strong recovery, the buyers must gain strength above the $120 and $124 resistance levels. If the Bitcoin Cash price rises above these levels, a trend reversal could occur in the near term. Otherwise, it is likely to continue lower towards the $100 support zone.
Alice Taylor
- 2023-04-28
Bitcoin Cash (BCH) Price Taking a Big Hit
Bitcoin Cash price is facing intense selling pressure due to the bearish sentiment in the industry. If the bears remain in action, the price could slide further towards the $100 support level.
![CandleFocus BitcoinCash-BCH-Price-Selling-Pressure-Bearish](https://images.candlefocus.com/Bitcoin-Cash-(BCH)-Price-Taking-a-Big-Hit.jpg)