Bitcoin Cash Price Analysis: BCH finds support at $501, gears up for an uptrend?

TL;DR Breakdown Bitcoin Cash price analysis is bearish for today, down by 8%.The cryptocurrency has found support at $501, while the nearest resistance is at $545.The entire crypto market is down owing to the China crypto crackdown news. Bitcoin Cash price analysis for today is bearish since the cryptocurrency price is trading at $505. The 24-hour trading volume for the cryptocurrency has surged by 5.98%, while the market capitalization of Bitcoin Cash fell by 6.96%. According to the data by Coinmarketcap, the market dominance of BCH is currently at 0.51%. Today, Bitcoin and other major altcoins have fallen by huge percentages. It is an undocumented protocol of the crypto market that the majority of altcoins will fall if Bitcoin fails to maintain an uptrend. Bitcoin Cash price fell from $552 and is currently at $505. The investors suffered losses today. The nearest support for the BCH/USDT pair is found at $501, while the nearest resistance is at $545. The movement is a downtrend in the short term, and it seems that the buying pressure is unable to match the selling pressure. Bitcoin Cash price analysis: Technical Indicators bearish The Bitcoin Cash price analysis shows that the technical indicators on the 4-hour chart are bearish while the Bitcoin Cash price is hanging above the $501 support. This support level seems to hold for now while the bulls try to push the price towards the resistance at $545. The key Moving Ave...