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Bitcoin Cash Price Prediction: BCH/USD Likely To Step Above $600

Bitcoin Cash Price Prediction
Bitcoin Cash Price Prediction

Bitcoin Cash Price Prediction – October 3

The Bitcoin Cash price is recovering from the daily low of $544 level as the price remains within the short-term bullish trend.

BCH/USD Market

Key Levels:

Resistance levels: $650, $670, $690

Support levels: $480, $460, $440

Bitcoin Cash Price Prediction
BCHUSD – Daily Chart

BCH/USD is trading above the 9-day and 21-day moving averages after hitting the daily high at the $574 resistance level. At the time of writing, the Bitcoin Cash is changing hands at $567, having gained over 2.75% since the beginning of the European session. However, with latest the recovery, the digital asset is currently crossing above the 21-day moving average within the channel.

Bitcoin Cash Price Prediction: Can BCH Break Above $600?

The Bitcoin Cash price is currently crossing above the 21-day moving average at the price level of $567.71. However, if the bulls maintain the upward trend, BCH/USD may likely stay above the moving averages which could touch the resistance levels of $650, $670, and $690, keeping the price at the upside. In other words, any strong selling pressure below the 21-day MA may drag the price below the 9-day MA if the bears step back into the market.

However, should in case Bitcoin Cash trade below the moving averages, a bearish continuation could bring the price to the supports of $480, $460, and $440. Meanwhile, the technical indicator Relative Strength Index (14) is seen moving to cross above 50-level, indicating a possible bullish movement.

When compares with Bitcoin, the BCH bulls are now showing little commitment to the market movement. However, following the recent positive sign, the current market movement may continue to follow an uptrend if the buyers continue to push the price above the upper boundary of the channel.

BCHBTC – Daily Chart

Moreover, as the technical indicator Relative Strength Index (14) is moving to cross above 40-level, once it moves above this level, the market price could resume an upward trend to cross above the 21-day moving averages which could touch the resistance level of 1300 SAT and above. Meanwhile, a retest below the lower boundary of the channel could lower the price to the support level of 1050 SAT and below.

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