Bitcoin Cash Bulls Struggle as Long-Term Bearish Trend Takes Hold

Bitcoin Cash (BCH) has been struggling to recover from its recent dip below $200. In May, the altcoin fell below a critical support level at $272, which it had traded within for over two years.

The selling pressure in May was intense, with BCH shedding nearly 42% of its value that month alone. This decline continued into June, eroding the token's relative strength against Bitcoin (BTC).

With the market maintaining a bearish bias and Bitcoin struggling to climb back above $67k, investors are left wondering if BCH will be able to bounce back.

The long-term bearish trend is likely to continue, with prices potentially pushing below $200. The 4-hour chart shows a bullish swing structure, but the higher-timeframe downtrend suggests that any rally may be short-lived.