$BCH Drops 12% in a Week — Can Bulls Defend $220–$240?
#Bitcoincash is facing strong selling pressure after falling around 7.7% in the last 24 hours and nearly 12% over the past week. The decline came as broader crypto sentiment weakened following fresh concerns about U.S. interest rates.
BCH’s Open Interest also dropped 9.6%, showing that traders are reducing their positions as uncertainty increases.
Long-Term Trend Still Looks Weak
BCH had spent nearly two years trading inside a large price range. That structure broke down in May, and the recent rally toward $300 appears to have been a retest of the old support zone, which has now turned into resistance.
The rejection near $300 suggests sellers are still active.
Weekly indicators also remain weak. RSI near 39 shows bearish momentum, while CMF around -0.24 points toward capital leaving the market. OBV has also been trending lower, adding more pressure to the bearish case.
The major downside level to watch is $188, a support area from 2023.
Can Bulls Still Fight Back?
The daily chart offers some hope. BCH previously broke above the $250 area, turning it into potential support.
For bulls, defending the $220–$240 zone is extremely important. Holding this region could create another recovery attempt.
However, a daily breakdown below $222 would weaken the bullish setup significantly.
If Bitcoin strengthens and moves above $82K, BCH could also regain momentum and potentially attempt another move toward $300+ later.
#Bitcoincash is facing strong selling pressure after falling around 7.7% in the last 24 hours and nearly 12% over the past week. The decline came as broader crypto sentiment weakened following fresh concerns about U.S. interest rates.
BCH’s Open Interest also dropped 9.6%, showing that traders are reducing their positions as uncertainty increases.
Long-Term Trend Still Looks Weak
BCH had spent nearly two years trading inside a large price range. That structure broke down in May, and the recent rally toward $300 appears to have been a retest of the old support zone, which has now turned into resistance.
The rejection near $300 suggests sellers are still active.
Weekly indicators also remain weak. RSI near 39 shows bearish momentum, while CMF around -0.24 points toward capital leaving the market. OBV has also been trending lower, adding more pressure to the bearish case.
The major downside level to watch is $188, a support area from 2023.
Can Bulls Still Fight Back?
The daily chart offers some hope. BCH previously broke above the $250 area, turning it into potential support.
For bulls, defending the $220–$240 zone is extremely important. Holding this region could create another recovery attempt.
However, a daily breakdown below $222 would weaken the bullish setup significantly.
If Bitcoin strengthens and moves above $82K, BCH could also regain momentum and potentially attempt another move toward $300+ later.
