BCH Price Prediction – September 27
The Bitcoin Cash shows an amazing intraday hike as it rises from today’s low of $216 to currently trading above $225.
Resistance levels: $245, $255, $265
Support levels: $200, $190, $180
BCH/USD is seen pushing the price above the critical resistance level. The coin is trading above the 9-day and 21-day moving averages to trade at $225.86 at the time of writing. The Bitcoin Cash is also seen focusing on the bullish momentum after a sustainable break above the channel. More so, the coin has gained over 2.01% since the beginning of the day as it is using $215 support as a jumping-off ground to develop the upside momentum, which is now gaining traction.
What to Expect from Bitcoin Cash (BCH)
On the upside, if BCH/USD stays above the 9-day and 21-day moving averages, the price may break through the resistance level of $235 and $240 respectively. Meanwhile, the technical indicator shows that the bulls are ready for action especially when the up-trending RSI (14) begins. Any further bullish movement above the channel may pave the way to the resistance levels of $245, $255, and 265.
In other words, if the price falls below the moving averages, the market may be compelled either to a range-bound or begin a downward movement. This may likely serve as a major blow for the market sentiments as traders could interpret it as a sign of underlying weakness. The next important support comes at $210, which may be followed by $200, $190, and $180 support levels.
Looking at BCH/BTC, one thing to note here is that the market is preparing to change the trend and a short-term bullish breakout may likely play out because the technical indicator RSI (14) is moving around 44-level and this could find the nearest resistance level at 0.0225 BTC and above.
However, peradventure the buyers failed to hold the current market value at 0.0210 BTC, the market price may likely continue a downward movement, while dropping further may bring the coin to the support level of 0.0190 BTC and below.