The TD Sequential indicator has issued a sell signal on the daily chart for Bitcoin Cash, indicating a potential pullback if the critical support level is breached.
Despite trading above the key support at $465, a close below that level could lead to a further downturn, with analysts eyeing a possible drop to $420.
Bitcoin Cash is currently trading at $486.68 and has experienced a slight 0.62% increase in the last 24 hours, with a market capitalization of nearly $9.7 billion and a trading volume of $249 million.
Although the asset has seen a 1.42% decline over the past week, the sell signal from the TD Sequential indicator suggests potential increased selling pressure unless current support levels are defended.