Bitcoin Cash Price Prediction: BCH/USD Withdraws to Test $537 Support

Bitcoin Cash Price Prediction – July 31

The Bitcoin Cash price is withdrawing from the daily and monthly high of $553 may be necessary for the next rally.

BCH/USD Market

Key Levels:

Resistance levels: $650, $700, $750

Support levels: $450, $400, $350

As the daily chart reveals, BCH/USD is looking to slow down and settle around the $540 level. The market breaks down today, touching its lowest daily level at $537. However, the current performance of the coin is below the normal expectations as the technical indicator remains at the upside.

Bitcoin Cash Price Prediction: BCH Price May Trade Sideways

The Bitcoin Cash is currently trading at $544; the daily chart shows that the coin is trading below the upper boundary of the channel. At the time of writing, the market price nosedives toward the 9-day ad 21-day moving averages, issuing a sell signal as the technical indicator Relative Strength Index (14) slumps below the 65-level.

Moreover, a minimum swing may likely push the market to the $500 support level. Therefore, moving below this level could take the bears to $450, $400, and $350 levels. On the other hand, a high swing may likely take the bulls to the key resistance level of $600. Above this, the coin can possibly trigger a bullish rally which may take the price to $650, $700, and $750 resistance levels.

Against Bitcoin, the daily chart reveals that the sellers are still showing some commitment within the market because of the recent fall of BTC. Therefore, following the recent negative signs may cause the coin to continue to go down if the bears put more pressure on the market.

However, as the Relative Strength Index (14) signal line stays below 40-level, if the buyers failed to hold the support of 1300 SAT, the market price may likely focus on the downtrend, pushing it towards the south may bring it to the nearest supports at 1100 SAT and below but a rebound could take the price to the resistance level of 1500 SAT and above.

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