Bitcoin Cash (BCH) is experiencing a notable downward movement after breaking below the crucial $560 support level. This decline has been in effect since January 20, 2026, when the altcoin was trading above this threshold but remained consistently under the moving average lines.
Efforts by buyers to push the price higher were unsuccessful, resulting in a further drop yesterday, as BCH fell to a low of $543. Should the bearish momentum continue, analysts suggest the price could plummet further to around $502, with BCH currently trading at $545.
Technical Analysis of Bitcoin Cash
In examining the price indicators for Bitcoin Cash, the moving average lines are indicating a bearish trend. The 21-day Simple Moving Average (SMA) has recently crossed below the 50-day SMA, confirming a decline. The continued downward slope of the moving averages, along with the price residing below these lines, reinforces the bearish outlook for BCH.
The price has faced resistance at the 50-day SMA, and the overall trend suggests that without significant buying pressure, the altcoin will continue its current trajectory. After breaking the $560 support level, BCH saw a brief pause in its decline at a low of $532.
Future Prospects for BCH/USD
What lies ahead for BCH? The recent price action indicates a bearish sentiment is prevailing among traders. With BCH now firmly below the $560 support, the market is on alert for further declines. The next significant support levels to watch are $500, $450, and $400. Investors should remain cautious and monitor market conditions closely.
It is important to note that this analysis reflects the author”s personal views and is based on data collected independently. It is not an endorsement or investment advice regarding any cryptocurrency.
