Bitcoin Cash technical analysis: BCH/USD struggles to stay above $220 as cryptos slash gains

Bitcoin Cash bulls return in full swing following the rejection at $240.
The prevailing short-bearish trend to remain strong amid high volatility levels.

Spot rate: $225

Relative change: -4.6

Percentage change: 2%

Open: $230

High: $235

Low: $223

Trend: Strongly bearish (short-term).

BCH/USD weekly chart

Bitcoin Cash trading above a 10-months long-term trendline likely to give way for a reversal above $300.

The upside is limited by the 50 Simple Moving Average on the weekly chart.

BCH/USD daily chart

The full stochastic nears oversold levels hinting a reversal in the near-term.

The biggest task for the bulls is to defend $220 support and focus on the return to $240.

BCH/USD hourly chart

The ascending trendline remains in place to offer support despite the correction from the recent highs.

Bitcoin Cash digs deeper into the Bollinger Bands but the lower curve is offering support to the building bullish momentum.

BCH/USD

Overview
Today last price	226.1581
Today Daily Change	-4.1209
Today Daily Change %	-1.79
Today daily open	230.279

Trends
Daily SMA20	238.0096
Daily SMA50	276.215
Daily SMA100	304.8289
Daily SMA200	323.6083

Levels
Previous Daily High	240.3
Previous Daily Low	229.3194
Previous Weekly High	235.7682
Previous Weekly Low	212.0442
Previous Monthly High	333.7339
Previous Monthly Low	202.6094
Daily Fibonacci 38.2%	233.514
Daily Fibonacci 61.8%	236.1054
Daily Pivot Point S1	226.2989
Daily Pivot Point S2	222.3188
Daily Pivot Point S3	215.3183
Daily Pivot Point R1	237.2796
Daily Pivot Point R2	244.2801
Daily Pivot Point R3	248.2602

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