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Bitcoin Cash Price Prediction: BCH/USD Bulls Target $700 Resistance

Bitcoin Cash Price Prediction
Bitcoin Cash Price Prediction

Bitcoin Cash Price Prediction – September 12

The Bitcoin Cash price keeps recovering from the monthly low of $582 level as the price remains within the short-term bullish trend.

BCH/USD Market

Key Levels:

Resistance levels: $750, $800, $850

Support levels: $550, $500, $450

Bitcoin Cash Price Prediction
BCHUSD – Daily Chart

BCH/USD is in the hands of the bulls as the coin remains below the 9-day and 21-day moving averages. However, due to a lack of enough buying power, the bulls could not sustain higher growth leading to a retest of the broken resistance level at $650. The technical indicator Relative Strength Index (14) is moving below 50-level with the signal line pointing to the north for more bullish signals. However, looking back at the recent dip of $582, recovery has been steady but acutely limited under $700.

Bitcoin Cash Price Prediction: Bitcoin Cash May Hold the Current Price

The Bitcoin Cash price is currently moving towards the 9-day and 21-day moving averages at the price level of $649. However, if the bulls maintain the upward trend, BCH/USD may likely follow the bullish movement which could take the coin to the resistance levels of $750, $800, and $850, keeping the price above the 9-day and 21-day moving averages.

On the other hand, any strong selling pressure may drag the price below the lower boundary of the channel if the bears step back into the market. However, should in case Bitcoin Cash trade below the daily opening price of $636, a bearish continuation could bring the price to the supports of $550, $500, and $450.

Against BTC, the market is bouncing back to cross above the 9-day moving average. At the time of writing, the Bitcoin Cash price has not been able to push the price upward, but it is currently trading at 1421 SAT. If the Bitcoin cash signals a more bullish rally, it may likely meet resistance at 1550 SAT and above.

BCHBTC – Daily Chart

Looking at the daily chart, we can say that the market may soon resume an upward movement as the technical indicator RSI (14) moves above 50-level. More so, BCH is likely to break above the 9-day moving average where it consolidating. However, should Bitcoin Cash drops below the 21-day moving average, the price may find support at 1300 SAT and below.

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