The price of Bitcoin Cash remains in a strong uptrend above $160.
A new monthly high of about $172 was formed, and recently the price has adjusted downwards.
The current price movement suggests that a larger range of activity is below the $170 and $172 resistances. On the other hand, immediate support is close to $162.5 representing the Fibonacci retracement level of 50% of the last wave from the minimum of $ 152 to a maximum of $172.
In the short term, a downward correction towards $165 or $162 is possible. On the positive side, the main obstacles are $170, $172 and $180.