Bitcoin Cash Price Prediction: BCH/USD Ranges as the Coin Holds $460 Support Author: Azeez Mustapha Last Updated: 17 January 2021 BCH Price Prediction – January 16 For the past few days now, BCH/USD price actions have been consolidating around the 9-day moving average. BCH/USD Market Key Levels: Resistance levels: $600, $650, $700 Support levels: $350, $300, $250 BCHUSD – Daily Chart BCH/USD is now struggling with the bearish pressure that dominates the entire crypto landscape. A few actions were witnessed to the upside over the past few days. However, the zone between $450 and $550 stayed intact as the key support level. The bulls are keen to ensure that the price stays above the moving averages before today’s dips into the $461 support zone. Where is BCH Price Going Next? Despite the fact that the BCH price moved above the 9-day MA yesterday, the coin has not been able to maintain its performance as it begins to recede downwards. At the moment, BCH/USD is moving within the 9-day and 21-day moving averages but the present trend indicates that BCH prices may continue to move sideways as the technical indicator RSI (14) moves below the 60-level. In addition, if the BCH market drives below the lower boundary of the channel, the market price could slump to the supports at $350, $300, and $250, bringing the price to a new monthly low as the technical indicator moves in the same direction. Meanwhile, if the bulls can push the coin above the 9-day MA, a very strong buying pressure may likely take the price to $550 resistance. While trading at this level, a bullish continuation could touch the resistance levels at $600, $650, and $700 respectively. When compares with BTC, the BCH price continues to follow a sideways movement trading below the 9-day moving average. BCH/BTC may likely go below this range if the sellers keep on pumping more pressure into the market. BCHBTC – Daily Chart However, the market price may likely resume an upward trend if the bulls push the market price above the 9-day and 21-day moving averages to hit the resistance level of 1600 SAT and above. More so, as the RSI (14) moves below 51-level, a retest could lower the price of the coin to the supports of the 1100 SAT and below.
