Bitcoin Cash cryptocurrency can be expected to fall to the next support level 200.00 (which started the sharp uptrend at the start of 2024).
- Bitcoin Cash falls sharply
- Likely to fall to support level 200.00
Bitcoin Cash cryptocurrency recently broke sharply through the major support zone between the key support level 270.00 (which has been reversing the price from the middle of 2024, as can be seen from the weekly Bitcoin Cash chart below), support trendline of the weekly down channel from Janaury and the round support level 250.00 (former yearly low from the start of 2025). The breakout of this support zone accelerated active short-term impulse wave 3 – which belongs to the sharp downward impulse wave (3) from the start of this year – which started near the major resistance level 625.00.
Given the strength of the active impulse wave 3 and the bearish sentiment affecting crypto market at the moment, Bitcoin Cash cryptocurrency can be expected to fall to the next support level 200.00 (which started the sharp uptrend at the start of 2024).