Bitcoin Cash Price Prediction for Today, May 9: BCH/USD Could Reach $130 Level

The Bitcoin Cash price prediction reveals that the BCH price is crossing above the 9-day and 21-day moving averages to continue the bullish movement.

Bitcoin Cash Prediction Statistics Data:

• Bitcoin Cash price now – $122
• Bitcoin Cash market cap – $2.3 billion
• Bitcoin Cash circulating supply – 19.3 billion
• Bitcoin Cash total supply – 19.3 billion
• Bitcoin Cash Coinmarketcap ranking – #28

BCH/USD Market

Key Levels:

Resistance levels: $138, $140, $142

Support levels: $95, $93, $91

BCH/USD is currently exchanging hands at $122 as the coin consolidates within the channel. The BCH price is heading toward the upper boundary of the channel. However, Bitcoin cash will have to focus on the bullish movement to guide against the downward pressure while the closest support expects the coin at $100, which could be the daily low.

Bitcoin Cash Price Prediction: The Bitcoin Cash May Move Upward

The Bitcoin Cash price stays above the 9-day and 21-day moving averages because any bearish movement to the south may bring the coin to the support levels of $95, $93, and $91. However, BCH/USD is trading at $122 and still trading above the moving averages. On the upside, a sustained move above the upper boundary of the channel could create more strength for the bulls with the focus to move the market to the next resistance levels of $138, $140, and $142 respectively.

At the moment, the technical indicator Relative Strength Index (14) moves to cross above the 50-level, which indicates that the market may face the upside. Looking at the daily chart, there may be a need for support to be formed around $100 to provide tight protection which could allow the buyers to concentrate on stirring action to the north.

Against Bitcoin, the Bitcoin Cash price is hovering above the 9-day and 21-day moving averages as the sellers aim to bring the price to the downside which could fall toward the lower boundary of the channel, while the technical indicator Relative Strength Index (14) moves to cross above the 60-level.

However, if the bulls succeeded in breaking above the upper boundary of the channel, the BCH price may likely hit the potential resistance level at 520 SAT and above. On the contrary, any bearish movement below the lower boundary of the channel could bring the price to the support level of 340 SAT and below.

Bitcoin Cash Alternatives

The Bitcoin Cash price is ready to create move additional bullish movement as the coin continues to rise and could probably face above the upper boundary of the channel if the bulls hit the $125 resistance level. Therefore, any further bullish movement above this barrier may push the price to the upside. However, AiDoge (AI) has also built a staking mechanism, ensuring that its ecosystem remains secure and protecting the integrity of AI tokens. Put simply, users are incentivized to stake their AI tokens, as this will yield free credits. Moreover, the token is currently in the presale stage as almost $6m has been raised so far.