Bitcoin Cash and Ethereum Price News: Further Falls Ahead

• Ethereum (ETH) and Bitcoin Cash (BCH) charts look bearish
• Lack of incentive to buy the market could see prices fade further.

BITCOIN CASH (BCH) PRICE DOWN 90% FROM DECEMBER 2017 HIGH

A huge slump for Bitcoin Cash, with worse expected to come, with the crypto down from a peak of $4,100 at the end of December to a current mid-market price of $414. Admittedly, BCH started as a free coin drop in late 2017 but the severity of the fall, and the lack of any support levels, could see further lows in the short-term. A cluster of trade around the $270-$300 area back in mid- to late-October may provide support but given the complete lack of incentive to buy any cryptos at the moment then even this ‘support zone’ may prove short-lived.

BITCOIN CASH (BCH) DAILY PRICE CHART (SEPTEMBER 2017 - SEPTEMBER 18, 2018)

IG Retail Sentiment continues to show that investors remain heavily long of the cryptocurrency market.

ETHEREUM (ETH) LOOKING TO MAKE ANOTHER YEAR-TO-DATE LOW

Another spectacular fall from grace - $1,420 to $198 –with near-term support again missing.The second-largest cryptocurrency which some had predicted would overtake Bitcoin (BTC) in market capitalization – ‘The Flippening’ – is under constant selling pressure as the ICO market spirals ever lower. Adding to the worry is the speed with which double-digit losses can occur - hours not days – and the lack of any buying at the lower levels. Retail remain heavily long of ETH and maybe they are now ‘full’ of a depreciating asset and are unwilling to put any more money into the space. A break of last Wednesday’s low at $167.6 could see Ethereum fall to between $120 and $150 in a short space of time. A break back above $300 would be needed to bring some bullish cheer back to the space.