BCH Price Prediction – December 17
Bitcoin Cash’s sudden dip below $205 concerns traders, BCH/USD may reclaim $200 before the end of the week.
Resistance levels: $220, $230, $240
Support levels: $170, $160, $150
BCH/USD is battling the bearish pressure that continues to dominate the entire crypto landscape. A few actions were witnessed to the upside over the weekend session. However, the zone between $200 and $204 stayed intact as the key support level. The bulls are keen to ensure that the price stays above $200 but yesterday’s dips into the $190’s range tested $194 support zone.
Moreover, despite the fact that the price reached as high as $210 on December 15, it was unable to maintain its performance and started to recede downwards. Currently, the coin 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 $180 support, BCH price could slump to $170, $160 and $150, bringing the price to a new monthly low as the RSI (14) faces the oversold zone. Meanwhile, if the bulls can hold the support at $195, a strong buying pressure may likely take the price to $210 resistance. While trading at $210, a bullish continuation could touch the $220, $230 and $240 resistance levels.
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.
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.
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