Support Levels: $150, $140
Resistance Level: $165
- Bitcoin Cash ABC broke the key support level between $160 and $170.
- A bear fall is predicted with the key resistance at $165
- Bitcoin Cash ABC can fall below $150 due to the massive selling pressure.
Bitcoin Cash ABC fell below $170 support range after an extreme selling pressure which could even break the next key support between $150 and $140.
Bitcoin Cash ABC declined heavily against USD once the price broke the support between $160 and $170. BCHABC is currently trading around $157 (at the time of publishing) according to CoinGecko. Currently, there is a key bear trendline built near the $165 resistance which can further decline the price of BCHABC to the next support level between $150 and $140. If the selling pressure is maintained, the next support can also be broken which can bring the price down to $130 to $120 range.
Looking at the daily chart of BCHABC vs USD, the price will likely fall below to the support near $140 and if the sellers remain strong, the price can even decline further to $130.