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Bitcoin Cash Price Prediction: BCH/USD Sends Price Below $735 Level

Bitcoin Cash Price Prediction
Bitcoin Cash Price Prediction

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Bitcoin Cash Price Prediction – September 4

The Bitcoin Cash price prediction reveals that BCH touches the daily high of $735 as the coin prepares for more downtrends.

BCH/USD Market

Key Levels:

Resistance levels: $800, $850, $900

Support levels: $600, $550, $500

Bitcoin Cash Price Prediction
BCHUSD – Daily Chart

BCH/USD shifted its focus from crossing above the upper boundary of the channel after touching the resistance level of $735. A few days ago, the market has been trading tremendously above the 9-day and 21-day moving averages. On the contrary, the Bitcoin Cash price could reach a low of $650 if the bears bring the price below the moving averages. At the time of writing, Bitcoin Cash may be contemplating which direction it could follow as the coin is seen trading at $710.44 support within the channel.

Bitcoin Cash Price Prediction: What Could Be the Next Move?

As reveals by the daily chart, the Bitcoin Cash price is currently hovering below the upper boundary of the channel. Therefore, if the market drives below the 9-day and 21-day MAs, the BCH price may likely slump to the initial support at $650, which could bring the price to the critical supports at $600, $550, and $500. But presently, the signal line of Relative Strength Index (14) remains above 60-level as this could increase the buying pressure towards the upper boundary of the channel.

Moreover, while trading towards this barrier, a bullish continuation could push the coin to the resistance levels of $800, $850, and $900. On the other hand, the Bitcoin Cash price may move sideways to save the coin against selling pressures. However, should the Bitcoin Cash returns to the previous supports, the bears likely reclaim the market movement.

Against Bitcoin, the daily chart shows that the bears are re-entering the market. Hence, they could follow the latest negative signal that started today. After touching the daily high of 1460 SAT, the coin retreated below the opening price of 1427 SAT and the trend may continue to fall if sellers keep up with the pressure.

BCHBTC – Daily Chart

However, if the bulls can manage to break above the upper boundary of the channel, the market price could hit the resistance level of 1550 SAT and above. Meanwhile, a retest could allow the pair to go below the 9-day and 21-day moving averages which could lower the price to the support level of 1300 SAT and below as the Relative Strength Index (14) is crossing above 60-level which could increase the bearish movement.

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