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Bitcoin Cash Price Prediction: BCH/USD Shows More Strength as the Price Targets $210 Resistance Level

BCH Price Prediction – December 28

Bitcoin Cash (BCH) is defiantly positive as the bulls push its value to 2.16% higher.

BCH/USD Market

Key Levels:

Resistance levels: $225, $230, $235

Support levels: $180, $175, $170

BCHUSD – Daily Chart

Over the past few days, the BCH/USD price moved in sideways to support the market, against selling pressure. However, should Bitcoin Cash fall back to the old support and break-even, the bears might assume control of the market. But as it stands now, the bulls are still in charge. Therefore, we can still expect a bullish continuation before a reversal come into play.

Yesterday, BCH/USD shifted its focus to $210 after clearing resistance at $205, although, the coin was extremely unstable throughout last week. However, Bitcoin Cash reached $209 in the early hours of today before plunging back to $207. At the time of writing, Bitcoin Cash is following a bullish trend and trading at $207.35 above the 9-day and 21-day moving averages within the ascending channel.

On the other hand, if the market drives below the $200 support, the BCH price may likely slump to the initial support at $190, which may later bring the price back to its critical supports at $180, $175 and $170. But presently, the RSI (14) crosses above 50-level and this could increase the buying pressure as the price is about to break out of the ascending channel to reach the $210 resistance level. Meanwhile, a bullish continuation may likely touch the resistance levels at $225, $230 and $235. It’s important to know when to buy bitcoin Paypal and how big the demand is.

Against BTC, the market bounces back 2 days ago to move above the 9-day moving average. Yesterday, BCH eventually broke up as the price moved above 21-day MA, which raised the price to 2804 SAT. However, Bitcoin cash has now signaled a bullish rally, the price may likely meet the potential resistance at 3000 SAT and 3100 SAT if pressure rises. In fact, the RSI (14) is now rising up.

BCHBTC – Daily Chart

Meanwhile, from the market structure, we can say the bulls have regained control of the market. But before the positive climb continues, BCH is likely to retrace to the break level around 2700 SAT where it may consolidate. However, should BCH/BTC drops below this consolidation area, the price could find critical supports at 2650 SAT and below.

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.