Bitcoin Cash Price Prediction for Today, August 29

Bitcoin Cash Price Prediction for Today, August 29 – BCH Technical Analysis

Updated: 29 August 2023

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The Bitcoin Cash price prediction shows that BCH has gained over 3% and the next resistance level could be at $200.

Bitcoin Cash Prediction Statistics Data:

Bitcoin Cash price now – $196.18
Bitcoin Cash market cap – $3.7 billion
Bitcoin Cash circulating supply – 19.4 million
Bitcoin Cash total supply – 19.4 million
Bitcoin Cash Coinmarketcap ranking – #18

BCH/USD Market

Key Levels:

Resistance levels: $295, $305, $315

Support levels: $100, $90, $80

Bitcoin Cash Price Prediction for Today, August 29 - BCH Technical Analysis — BCHUSD – Daily Chart

BCH/USD is seen moving from $189.89 to the cross above the 9-day and 21-day moving averages to hit the resistance level of $200. However, the coin is seen slightly crossing above the 9-day moving average, the pair could spike to the upside if the bulls increase the pressure.

Bitcoin Cash Price Prediction: What Could be the Next Direction for BCH?

According to the daily chart, the Bitcoin Cash price may continue to face the upside and this could make the coin hit the nearest resistance level of $205. However, it is likely for the coin to slide below the lower boundary of the channel if the bears step back into the market. Meanwhile, today’s low at $189.85 may now serve as strong support for the coin, therefore, if it is broken, the sell-off may be extended to $150.

Currently, the bulls are planning to dominate the market by pushing the Bitcoin Cash price above the 9-day and 21-day moving averages. However, if the price moves below the channel, BCH/USD could hit the support levels of $100, $90, and $80. As the daily chart reveals, the Relative Strength Index (14) is moving to cross above the 40-level, which indicates that the bullish trend may continue to play out. Moreover, if the bulls can put more effort and push the Bitcoin Cash price higher, further resistance levels could be found at $295, $305, and $315.

BCH/BTC Could Follow the Bullish Trend

Against Bitcoin, the Bitcoin Cash (BCH) is demonstrating a positive sign within the 9-day and 21-day moving averages. However, the trend is ranging in the short-term and may cross above the moving averages. However, BCH/BTC is currently changing hands at 752 SAT and could spike toward the upper boundary of the channel.

Nevertheless, if the coin heads toward the north, it could hit the potential resistance level of 1100 SAT and above but any bearish cross below the lower boundary of the channel may locate the critical support level at 440 SAT and below. Therefore, the technical indicator Relative Strength Index (14) is moving to cross above the 50-level, indicating more bullish signals.

Bitcoin Cash Alternatives

According to the daily chart, the Bitcoin Cash price may create more bullish trends once it crosses above the 9-day and 21-day moving averages, and this is noticeable for the technical indicator Relative Strength Index (14) as the signal line moves to cross above the 40-level, suggesting additional bullish signals.

However, as some popular tokens are declining, the $WSM token continues to be rated a “buy” because the current presale price remains attractively inexpensive. The best strategy is to buy some tokens now before the price skyrockets. Meanwhile, the Wall Street Memes token has raised over $25 million so far.

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