Bitcoin Cash Faces Pressure: Will $300 Hold or Break ?

• Downtrend Confirmation: The price recently broke below the mid-Bollinger Band (20-day SMA), signaling bearish momentum.
  
• Lower Bollinger Band Touch: The price recently reached the lower band, suggesting oversold conditions or a continuation of the downtrend.
  
• Volume Spike in Down Move: Increased volume during the price drop indicates strong selling pressure.
  
• Support Around $300: The price has recently bounced from near $300, a psychological and historical support level.
  
• Resistance Near $380-$400: The mid-Bollinger Band and previous price rejections suggest resistance in this range.
  
• Bullish Reversal: If BCH can reclaim the mid-Bollinger Band ($380 area) and hold, it may trigger a move toward the upper band ($480+).
  
• Further Downside: A failure to hold $300 may open the door for further declines toward $280 or lower.
  
• Consolidation Phase: If BCH stabilizes between $300-$380, sideways movement may occur before a new breakout.