Bitcoin Cash Drops 4.4% Amid Increased Selling Volume and Resistance Levels
Bitcoin Cash (BCH) dropped over 4% in the last 24 hours, falling from $422.48 to a low of $403.83 due to a midnight selloff with a volume spike of 35,649 units. This decline reflects bearish sentiment in the crypto market amid economic uncertainties.
Key points:
- BCH declined 4.4% from $422.48 to $403.83 in 24 hours.
- Midnight trading prompted a volume increase to 35,649 units.
- $400.57 is a critical support zone, holding during multiple tests.
- Resistance at $414-$415 has consistently rejected bullish attempts.
- A short-term ascending channel has formed, with support near $402.00.
- $405.00 serves as immediate resistance for any rebound.
The broader trend remains bearish, with BCH needing to reclaim the $410 level and overcome the $414-$415 resistance to signal potential recovery.