Join Our Telegram channel to stay up to date on breaking news coverage
The Bitcoin Cash price prediction reveals that BCH may begin to form higher as the bears lose grip over the coin.
Bitcoin Cash Prediction Statistics Data:
- Bitcoin Cash price now – $233.91
- Bitcoin Cash market cap – $4.2 billion
- Bitcoin Cash circulating supply – 19.5 million
- Bitcoin Cash CoinMarketCap ranking – #20
BCH/USD Market
Key Levels:
Resistance levels: $255, $260, $265
Support levels: $205, $200, $195
BCH/USD is attempting to cross above the 21-day moving average while the $225.7 support level remains the critical support where the price has been holding for some time now. However, since a few days ago, BCH/USD has been trading below the 9-day and 21-day moving averages and this refrains the coin from touching the resistance level of $240.
Bitcoin Cash Price Prediction: Will Bitcoin Cash Move Higher?
The Bitcoin Cash price may begin to rise and could probably cross above the upper boundary of the channel if the bulls defend the $225.7 support level. However, any further bullish movement near the channel may hit the potential resistance levels of $255, $260, and $265.
However, this technical prediction may be invalidated if the bears break and slide below the lower boundary of the channel, any further bearish movement may reach the support levels of $205, $200, and $195. Moreover, the 9-day MA is still below the 21-day MA suggesting the possible bearish movement in the market.
BCH/BTC Goes Bearishly
Against Bitcoin, the Bitcoin Cash price is attempting to cross above the 9-day and 21-day moving averages with a major resistance level at 650 SAT. Meanwhile, the long-term moving averages may likely keep the bullish movement as the market is starting a new trend if it crosses above the 21-day moving average.
However, if the buyers could push the price to the upside, higher resistance could be located at 735 SAT and above. Moreover, should the bulls fail to move the current market value above the moving averages, bears may step into the market, and the nearest support level could be located at 510 SAT and below.
Bitcoin Cash Alternatives
The Bullish momentum takes control of Bitcoin Cash as the coin aims to surpass both the 9-day and 21-day moving averages. The potential for sustained upward movement suggests a possible retest of the previously breached resistance level at $236. Furthermore, a bullish signal is anticipated as the 9-day moving average is poised to cross above the 21-day moving average, adding to the positive market sentiment.
Meanwhile, drawing a comparison between Bitcoin Cash and Bitcoin Minetrix underscores a compelling opportunity within the latter. With a lower market cap and having already raised an impressive $4.2 million in its presale, Bitcoin Minetrix presents an enticing prospect. The ongoing presale serves as an early entry point for investors, unveiling the ground-breaking potential for significant growth within the decentralized mining sector. Don’t miss your chance to be part of this transformative journey – join the Bitcoin Minetrix movement today!
CoinCodex - Our Recommended Crypto Research Platform
- Live Cryptocurrency Prices for Over 20,000 Coins
- Crypto Price Analysis with Popular Technical Indicators
- Crypto Price Predictions with Short and Long-Term Charts
- Historical Crypto Market Data Dating to 2010
- Crypto Portfolio, Profit Calculator, and Other Investment Tools
Join Our Telegram channel to stay up to date on breaking news coverage
