• Bitcoin cash price started a fresh decline from the $117 zone against the US Dollar.
• The bears pushed the price below the $112 support and it is now trading below the $115 zone.
• If there is a move below the $110 and $107 support levels, BCH could continue to move down towards $100.

Bitcoin Cash Analysis

Bitcoin cash price started a fresh decline from the $117 zone against the US Dollar. The price is now trading below the $115 zone and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $112.50 on the 4-hour chart of the BCH/USD pair (data feed from Coinbase).

Price Analysis

Bitcoin Cash price was able to gain pace for a move above the $112 and $115 resistance levels. BCH even traded above the $116 level before the bears appeared. A high was formed near $116.83 before the price started a fresh decline.

Resistance Levels

Immediate resistance is near the $112.50 level. There is also a key bearish trend line forming with resistance near$ 112.50 onthe4-hourchartoftheBCH/USDpair(datafeedfromCoinbase).Themainresistance sits near thee$115level.

Support Levels

Any more gains above$ 115couldsetthepaceforamovetowardthe$117levelIfnot,thepricemight continuetolowerbelow$110andthe61.8%Fibretracementleveloftheupwardmovefromthe$106.99swinglowtothe$ 116 . 83highImmediate supportonthedownsideisnearthe$108zoneThenextmajor supporthisnearethe$107level,below whichthebearsmightaim$100Thenexttargetforthemmayperhapsbenearth e92leve l.

Conclusion < p > Looking at th e chart , Bitcoin Cash pricenowtradingbelowthee115zoneandthel55simplemovingaverage(4hours) Overall , th epri cecouldcontinuetomovedownifitbreaksthee110ande107supportlevels.