Bitcoin Cash BCH/USD

Bitcoin Cash broke below the February 06 lows of $778.2021 on March 29. The next support is way lower at the $558 to $600. This level coincides with the support line of the descending channel and the horizontal support. We might see a relief rally from this strong support zone.

The RSI in the oversold zone also supports the possibility of a pullback, however, the BCH/USD pair will face selling at the 20-day EMA, which is right at the resistance line of the descending channel.

We recommend waiting for the virtual currency to stop falling before suggesting any trades.