Bitcoin Cash Forecast: BCH Hikes 1% – What's Driving Its Revival?

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Bitcoin Cash (BCH) emerged as a victor, rekindling optimism among investors.

The price of BCH surged to $238 but sharply declined to approximately $200 as of 11:09 a.m. EST yesterday. The coin actively traded at $225, signaling a 6% increase in the past 24 hours.

Furthermore, Bitcoin Cash BCH has also encountered a significant upswing in trading activity within the last 24 hours, with its trading volume surging by 100% to $320 million.

Bitcoin Cash (BCH) Price Breaks Above Falling Channel

Bitcoin Cash (BCH) BCHUSD Price Chart. Source: Tradingview.com

According to the chart, BCH has been experiencing a downward trend, driving its value to a critical support level of $182. This support level has proven its strength by repelling bearish attempts to push the price below it.

What’s intriguing is that this support level has become a launching pad for bullish momentum, and the bulls are currently taking charge, breaking out of the falling channel pattern and confirming the bullish sentiment for BCH price.

Adding to the bullish outlook, sentiment is the analysis of 50-day and 200-day simple day-moving averages, revealing a significant SMA crossover at $121.

Despite encountering resistance, these moving averages are still upholding a bullish sentiment. The 200-day moving average has played a crucial role in offering support, providing a solid foundation for the bulls, and reinforcing the support zone.

Furthermore, the 50-day moving average is trading below the price, confirming the bullish momentum, potentially propelling the price past the $230 mark, and targeting the previous resistance at $335.

The relative strength index (RSI) rebounds from its neutral position of 50, treading at 63 upwards and edging closer to the overbought region of 70. This shows intense buying pressure, raising the possibility of the RSI entering above the overbought territory.

BCH is on a bullish trajectory, confirming this sentiment with candlesticks trading above the 50-day SMA. Key levels to keep watch are $255 and $335, respectively.

Conversely, if the $230 resistance level remains resilient, the bears might jump on this opportunity and drive the price to the 50-day SMA at $205, where the bulls will regroup to drive the price high aggressively.

Meme Kombat is offering investors the opportunity to earn high returns on investment through staking and P2Egaming.

Meme Kombat (MK) Stake Play and Earn Rewards

The Meme Kombat (MK) presale is selling fast, with the project reaching $103,001.49 in funding a week after its launch. Meme Kombat ($MK) is selling for $1.667 per token. You can buy and immediately begin staking and earning.

This sharp spike strongly shows the high interest from investors in the native token of the Meme Kombat project, which operates on the Ethereum blockchain.

If you engage in the Meme Kombat presale, you can take part in an innovative program that automatically stakes the tokens you purchase and gathers rewards.

Play-to-Earn (P2E) Gaming Opportunity

MK stands out from other meme coins by offering a blockchain network that combines the potential of memes and play-to-earn (P2E) gaming.

Who is your champion? pic.twitter.com/DumiKuPrqk

— Meme Kombat (@Meme_Kombat) September 27, 2023

Meme Kombat incorporates participants from all corners of the crypto market, including those interested in staking, allowing you to strategically engage in battles or observe them from the sidelines.

Furthermore, at the core of the P2E and gaming ecosystems is the Meme Kombat Token ($MK). You can use this token for various network activities. These include serving as the primary currency for the Meme Kombat arena game, automating battles, enabling wagering, and supporting staking for passive income generation.

Use it in the Arena, @miladymaker #memekombat pic.twitter.com/oEjLNPKeno

— Meme Kombat (@Meme_Kombat) September 26, 2023

Half of the total supply of $MK, equivalent to 12 million tokens, is available for purchase during the presale. They will allocate the proceeds from the presale to various purposes, including raising initial capital, building the community, and establishing a presence in the market.

Meme Kombat (MK) Tokenomics

MK Tokenomics has a significant portion, amounting to 30% or 3.6 million tokens, designated for staking and battle rewards, as Meme Kombat places great importance on incentivizing your engagement through these mechanisms.

Additionally, 10% or 1.2 million $MK tokens of the total supply will support listings on decentralized exchanges. Meanwhile, the remaining 10% or 1.2 million $MK tokens are allocated for community rewards.

Moreover, prominent YouTube influencer Michael Wrubel, with a subscriber base of over 310,000 subscribers, recently shared his assessment of MK. His thoughts show that this project can face out despite the existence of previous meme coins.

To join the presale, connect your digital wallet to the MK website. Fund it with Ethereum, Bitcoin Cash, or Binance Smart Coin (BSC). Then, follow the instructions to purchase your MK tokens. Once your purchase is complete, you can start trading your MK tokens on the MK platform.

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