Bitcoin Cash (BCH) is trading near a critical weekly support zone between $400 and $420, with analysts flagging the level as a major decision point. The cryptocurrency’s price remains below key moving averages, and its Relative Strength Index signals weak momentum. Holding support could lead to a push toward $600, while a breakdown risks a drop toward the $300 region.
Bitcoin Cash hovered near a decisive level as sellers maintained control in recent sessions. According to CoinMarketCap data, BCH is trading at $422.90, showing a 3.63% decline over the past 24 hours.
Analyst Marcus Corvinus highlighted that BCH is sitting at a key weekly support range. He noted that the price is holding an ascending trendline.
The higher low formation at the support region implies the bullish trend is strong. Holding this level could lead to a move toward $600 and above.
Corvinus warned that failure at support risks a reversal. In that case, the price could head lower into the $300 demand region.
Another analyst, Crypto Woodyz, mentioned a similar outlook. He mentioned that BCH is forming a higher low near weekly support in the $420 region while staying above the rising trend line.
Technically, the price remains below all major exponential moving averages (EMAs). The 20-day EMA at $447.5 and the 50-day EMA at $468.6 act as resistance.
The Relative Strength Index is at 35.87, signaling negative momentum. The RSI is nearing oversold territory but has not shown a reversal signal.
