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Bitcoin Cash Price Prediction: BCH/USD Falls to $219; What’s Next?

BCH Price Prediction – April 14

BCH/USD may likely continue the downward momentum as revealed by the technical indicator RSI (14).

BCH/USD Market

Key Levels:

Resistance levels: $278, $298, $318

Support levels: $176, $156, $136

BCHUSD – Daily Chart

Today, the BCH/USD peaked at $232.74 but later turns down by following a downward trend within the channel. Meanwhile, for the price not staying above $250 ruins the long-term technical picture of the coin. Bitcoin cash will have to hold this ground to guide against the further downward pressure and the closest support expects the coin at $200. Once it is established, the downside may likely grow, with the next goal supporting $176, $156 and $136 levels.

In addition, the Bitcoin cash is hovering at $223.92 and trading above the 9-day and 21-day moving averages. On the upside, a sustained move above the moving averages may ease the initial downside pressure and create momentum for the bulls with the focus to move the market to the next resistance levels of $278, $298 and $318 respectively. At the moment, RSI (14) moves around 45-level, which indicates that the downward momentum may likely continue.

Against Bitcoin, the last few days have given the bears an upper hand in controlling the market. Following the recent negative sign, the BCH/BTC trend may continue to go down in as much as 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 can hold the price at 2775 SAT and move towards the resistance level of 2950 SAT and 3000 SAT but as the stochastic RSI crept out of the overbought condition, a retest could lower the price of the coin to 2650 SAT and 2600 SAT support levels.

Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

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      Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.