Bitcoin Cash Price Analysis
Bitcoin cash price struggled to gain pace for a move above the $130 and $132 resistance levels. BCH formed a high near $136.18 and started a fresh decline.

There was a clear move below the $126.00 and $125.00 support levels. The pair even declined below the $120 support. It tested the $112 level. A low is formed near $111.66 and the price is now consolidating losses. It is now trading near the 23.6% Fib retracement level of the key drop from the $136.18 swing high to the $111.66 low.

Looking at the chart, Bitcoin cash price is now trading below the $120 zone and the 55 simple moving average (4 hours). Overall, the price could continue to move down if it stays below the $120 resistance zone.

Technical indicators
4 hours MACD – The MACD for BCH/USD is gaining pace in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for BCH/USD is below the 50 level.

Key Support Levels – $114 and $112.

Key Resistance Levels – $120 and $124.