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Bitcoin Cash Price Prediction: BCH/USD Stays Below $500 Support

Bitcoin Cash Price Prediction
Bitcoin Cash Price Prediction

Bitcoin Cash Price Prediction – September 26

At the time of writing, Bitcoin Cash price prediction is witnessing a rise in its selling pressure as the coin moves downward.

BCH/USD Market

Key Levels:

Resistance levels: $600, $650, $700

Support levels: $400, $350, $300

Bitcoin Cash Price Prediction
BCHUSD – Daily Chart

A couple of days ago, BCH/USD touches the high of $556, and since the coin has been following a downward trend within the channel. However, the BCH price not moving close to the $600 resistance level ruins the long-term technical picture of the coin. Therefore, BCH/USD will have to hold this ground to guide against the further downward pressure as the closest support expects the coin at $500.

Bitcoin Cash Price Prediction: BCH Price May Fall Further

Today, Bitcoin Cash’s price is spotted at $481 support after a bearish candlestick crossing below the lower boundary of the channel. It was at the onset at the beginning month when BCH/USD was seen breaching the $800 level but failed to trade to the upside and corrected downwards. At this point in time, Bitcoin Cash is currently losing over 1.18% value and it is now keeping the coin to the downside.

However, the volatile price movement remains intact, and traders may expect a breakdown soon as per the current formation of the moving averages. Alongside, the bearish movement on the technical indicator as the candlestick pulled back and move near the lower boundary of the channel. More so, the Relative Strength Index (14) is seen moving below 40-level as the critical supports could be found at $400, $350, and $300. On the contrary, the resistance levels can be located at $600, $650, and $700.

Against Bitcoin, the Bitcoin Cash is currently trading below the 9-day and 21-day moving averages and the daily chart reveals that the bears are showing a great commitment to the trading. Meanwhile, looking at the recent negative signs, the market price may continue to go down if the sellers continue to pump more pressure into the market.

BCHBTC – Daily Chart

However, as the Relative Strength Index (14) moves within the oversold region, the buyers will need to hold the support of 0.0115 BTC, the market price may likely begin an upward movement, while pushing further above the 9-day moving average may cause it to hit the resistance level of 0.013 BTC and above but a cross below the lower boundary of the channel could lower the price to the support of 0.011BTC and below.

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