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Bitcoin Cash Price Prediction: BCH/USD Consolidates Around $440

Bitcoin Cash Price Prediction
Bitcoin Cash Price Prediction

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Bitcoin Cash Price Prediction– July 17

The Bitcoin Cash price could extend the breakdown below the $400 support if the price fails to cross above the moving averages.

BCH/USD Market

Key Levels:

Resistance levels: $600, $650, $700

Support levels: $300, $250, $200

Bitcoin Cash Price Prediction
BCHUSD – Daily Chart

BCH/USD is yet to break above the 9-day and 21-day moving averages as the price has had a bearish inclination and became an uphill task to sustain the gains above the potential $500 due to the renewed bearish momentum emanating from the rejection around $446. However, the Bitcoin Cash price is currently trading with a 0.03% loss, and the value remains below the 9-day and 21-day MAs.

Bitcoin Cash Price Prediction: Bitcoin Cash Price Prediction May Delay Its Uptrend

The Bitcoin Cash price may continue to consolidate itself in a flag formation as the coin may continue to head towards the south. More so, the daily breakdown reveals that the BCH price may delay its uptrend as long as the 9-day MA remains below the 21-day MA. Therefore, if the support level of $430 gets weak, a price break-down may occur as the bears may find new weekly lows at $300, $250, and $200 support levels.

On the contrary, a bullish cross above the upper boundary of the channel may likely roll the market back to $550 resistance and could move towards the $600, $650, and $700 resistance levels, establishing a new weekly high for the market. For now, the technical indicator Relative Strength Index (14) is moving below the 35-level.

When compares with Bitcoin, the recent sideways movement in the market is due to the price stability in BCH trading and what the traders need to note here is that the market is preparing to change the trend and a short-term bearish breakout is most likely to play out because the technical indicator RSI (14) is likely to move into the oversold zone and this could find the nearest support level at 0.011 BTC and below.

BCHBTC – Daily Chart

However, the only condition for the resumption of the bullish trend is if the 0.013 BTC level can continue to provide support for the market, then the price may be pushed to the resistance level of 0.017 BTC and above. Meanwhile, the Bitcoin Cash price may continue to follow the sideways movement.

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