Looking at the entire market, most of the major coins of the crypto market have been recording losses and the crypto market has been moving in reds.
The Bitcoin Cash price continues to move sideways, and it could drop below the 9-day and 21-day moving averages.
However, BCH/USD may cross above the upper boundary of the channel, but if the market price drops below the current market value of $375.97, the coin could slump to the support levels of $330, $310, and $290, bringing the price to a new monthly low.
Compared with Bitcoin, the Bitcoin Cash price is very low due to a bearish scenario which is causing the market to fall slightly.
From the upside, the resistance level of 900 SAT and above is likely to play out if the coin crosses above the upper boundary of the channel.