Bitcoin Cash has stopped going down by Friday May 18 and is now trading around $1,205.10. Lately, it has not managed to reach $1,350 and has fallen against the USD, which can be clearly seen on D1, said Dmitriy Gurkovskiy, Chief Analyst at RoboForex.
BCH has also fallen below the trend line at $1,250 that acts as a dividing line between the bulls and the bears. As of now, the digital coin has run enough correction, but still may face issues when trying to recover and break out $1,240 or $1,250.
Meanwhile, the fight between the sellers and scarce buyers has become more tense lately. However, the buyers are not quite lucky, as after BCH headed down below $1,340, the bears got active and the selloff grew stronger.
In fact, the downward wave was so strong that Bitcoin Cash nearly reached $1,150, although it stopped at $1,156. On H1, the bearish trend is very clear, with its upper line at $1,250.