Bitcoin Cash Faces Sell Signal Despite Holding Above Key Support
Bitcoin Cash (BCH) may be heading for a short-term correction as a technical indicator flashes a warning.
According to market analyst Ali Martinez, the TD Sequential indicator has issued a sell signal on the daily chart, suggesting a potential pullback if the asset fails to hold above critical support.
At the time of writing, BCH is trading at $486.68—comfortably above the $465 level identified as a crucial threshold. However, a daily close below that point could trigger further downside, with analysts eyeing a potential dip toward $420.
Despite this bearish setup, Bitcoin Cash has managed to inch up 0.62% over the last 24 hours. Its market capitalization stands at nearly $9.7 billion, with 24-hour trading volume reaching $249 million. Still, the asset has dropped 1.42% over the past week, reinforcing caution among traders.
The TD Sequential, widely used for timing market tops and bottoms, tends to mark key inflection points. If the sell signal proves accurate, BCH may soon face increased selling pressure—unless bulls can defend current support levels.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
