Bitcoin Cash collapses at the level of $640!
The Bitcoin Cash (BCH) currency has seen a sharp decline after failing to break through the resistance area at $640, as the price has currently dropped to around $554.
🔸 Technical Analysis:
If support at the 21-day SMA is broken, BCH may continue its decline towards $517.
If the price holds above the current support, it may continue to trade sideways between $520 – $630.
🔑 Resistance areas: $600 – $650 – $700
🔑 Support areas: $500 – $450 – $400
⚠️ This analysis is not an investment recommendation, but rather a technical reading of the current movement. Please conduct your own research before making any trading decisions.