InsideBitcoins.com

Bitcoin Cash Price Prediction: BCH/USD Price Ranges as the Coin Holds $235 Support

BCH Price Prediction – June 14

In the past few days, BCH/USD price actions are consolidating below the moving averages.

BCH/USD Market

Key Levels:

Resistance levels: $260, $280, $300

Support levels: $215, $195, $175

BCHUSD – Daily Chart

BCH/USD is currently battling with the bearish pressure that continues to dominate the entire crypto landscape. A few actions were witnessed to the upside over the past few days. However, the zone between $235 and $240 remained intact as the key support level. The bulls are keen to ensure that the price stays above thec9-day and 21-day moving averages.

Moreover, despite the fact that the price reached as high as $242 yesterday, it was unable to maintain its performance and started to recede downwards. At the moment, BCH/USD moves below the 9-day and 21-day moving averages but the present trend indicates that BCH prices may fall marginally before the day runs out.

Furthermore, if the market drives below the $220 support, the BCH price could slump to $215, $195, and $175, bringing the price to a new monthly low as the RSI (14) is heading towards the 45-level. Meanwhile, if the bulls can hold the support at  $235, a strong buying pressure may likely take the price to $240 resistance. While trading at $250, a bullish continuation could touch the resistance levels at $260, $280, and $300.

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

Looking at the daily chart, the market price may likely resume an upward trend if the bulls can hold the price at 2537 SAT and cross above the moving averages to reach the resistance level of 2700 SAT and above but as the technical indicator RSI (14) moves in the same direction, a retest could lower the price of the coin to the supports of 2400 SAT and 2200 SAT.

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.

Top brokers for buying and trading cryptocurrencies

  • Platform
  • Features
  • Rating
  • Visit Site
  • US-Friendly
  • Paypal accepted
  • 12+ cryptocurrencies
4.5/5

Visit Site
75% of retail investors lose money.
eToro Reviews

    eToro Reviews

    https://insidebitcoins.com/visit/etoro-newsCreate your account
    Hide eToro Reviews
    • Best broker for non-US countries
    • Trade crypto CFDs, forex and stocks
    • No withdrawal or deposit fees
    4.5/5

    Visit Site
    80.5% of retail investors lose money.
    Plus500 Reviews

      Plus500 Reviews

      https://insidebitcoins.com/visit/plus500-newsCreate your account
      Hide Plus500 Reviews
      Remember, all trading carries risk. Past performance is no guarantee of future results.
      Avatar

      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.