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The BCH/USD pair just reached $245.63 today, which is simply above the intraday low of $245 made on Aug. 2 This is an important guide to watch out for due to the fact if it cracks, a drop to $217.55 is possible.
The transferring averages are on the verge of a bearish crossover and the RSI has again dropped into the negative territory, which suggests that bears have the top hand. This bearish view will be invalidated if the pair rises and sustains above the $280 resistance.