Bitcoin Cash/USD Price Analysis Sept. 24, 2018

[Nikko]

Bitcoin Cash failed to reach the 50-day SMA. It turned down from just above the $500 level on September 22. The trend remains down as it is still trading inside the descending channel.

The 20-day EMA is flat and the RSI is close to the midpoint. This points to a likely consolidation in the near-term.

If the BCH/USD pair falls below $450, it can retest the low at $400. On the upside, the critical levels to watch out are the 50-day SMA and the downtrend line of the descending channel.

We will wait for the trend to change before suggesting a trade.

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