Bitcoin Cash Market Update: BCH/USD bounces off $200 support zone

Bitcoin Cash narrows down towards $200 main support after rejection from $210.
The buy zone at $190 is still intact in case $200 support is breached.

Bitcoin Cash is battling the bearish pressure that continues to dominate the entire crypto landscape. Little action was witnessed to the upside over the weekend session. However, the zone between $200 and $204 stayed intact as the key support area.

The bulls are keen to ensure that the price stays above $200. The previous dips into the $190’s range tested $190 demand zone. While a reversal averted possible losses towards $180, gains above $210 have been acutely limited.

The descending trendline caps upside momentum, in turn, forcing BCH towards $200. The upside is also limited by the 50 SMA, which just crossed under the 100 SMA. The double cross signals a lower consolidation in the coming sessions. On the brighter side, the RSI is holding ground above 30 and pointing upwards as a gesture for the improving technical picture.