Bitcoin Cash (BCH) Price Crashes by 9% in the Last 24 Hours, Wiping Out Most of the Gains Made This Month

BCH's price crashed by 9% in the last 24 hours, wiping out most of the gains made in the month and confirming that BCH will end the first quarter of 2025 in the red.

Bitcoin Cash (BCH) price today crashed by 9% in the last 24 hours, wiping out most of the gains made in the month and confirming that BCH will be closing the first quarter of 2025 in the red.

The market-wide FUD has continued to exert downward pressure on BCH prices, and it may well end the month of March having gained less than 5%.

The overnight crash also saw BCH drop below $310 for the first time in 3 months. However, the slip was short-lived as it bounced back above $310.

BCH Faces Stiff Resistance at $340

Earlier this year, Bitcoin Cash was trading in the $450 price range and had set the psychological support level at $400.

However, as Trump tariffs and the FED’s cautious approach to interest rates crashed the market, BCH prices were forced lower. This saw the coin slip below $270 temporarily in mid-February.

However, the coin has reported significant gains throughout March thanks to the calmer markets.

At the start of the month, Bitcoin cash rallied back above $400, reigniting investor confidence in the brand.

Even though it later slipped back to the high $300s territory, there was hope it could end the month and first quarter above $350 and close to $400.

That was until the Trump Administration announced that it would be enforcing reciprocal tariffs on April 2nd.

The move has spooked Bitcoin Cash investors and increased the selling pressure. As this date fast approaches, technical indicators paint a gloomy picture of BCH’s next price action.

The RSI is on a downtrend and now threatens to fall into the oversold territory below 40.

The MACD line has converged with the blue line crossing the signal line from above and is dipping into the negative territory rapidly.

For more than a week, any attempt at recovery has been strongly rejected at around $340, and these indicators confirm this support as BCH’s newest resistance level.

Bitcoin Cash (BCH) Next Price Action

It is likely that Bitcoin Cash prices will continue oscillating between $300 and $340 for the next few days.

If the April tariffs cause another shock to the market, BCH will likely dip to $300.

However, if Bitcoin and the larger crypto industry can hold its ground in the face of the watered-down tariffs, BCH could rebound and set its next target as conquering $400.

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At the time of writing, BCH was trading at $314, down 8.88% for the 24 hours. The coin is still up by 4.65% for the week.