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The Bitcoin Cash price jumped 2% in the last 24 hours to trade at $478.63 as of 7:36 a.m. EST as investors slowly start to buy the crypto.
With the recent gain, the BCH price is now up more than 13% on the longer-term monthly time frame.
Bitcoin Cash Price Trades Sideways, Is A Big Move Coming?
Daily chart for BCH/USD (Source: GeckoTerminal)
The Bitcoin Cash price has been in a consolidation phase between $434.14 and $508.39 over the past 2 weeks, data from GeckoTerminal shows. This period of sideways trading could be a build up to a major move.
If the Bitcoin Cash price surges in the short term, it will likely look to flip the resistance level at $508.39 into support. Thereafter, continued pressure from bulls could result in a climb to as high as $569.90.
Conversely, a breakdown of the Bitcoin Cash price might lead to a test of the lower boundary of the consolidation channel at $434.14. Failure to hold above this technical safety net could result in a plunge to the next key support level at $372.62.
Technicals Suggest The Bitcoin Cash Might Keep Climbing
From a technical point of view, indicators on the daily chart suggest the Bitcoin Cash price might continue to climb in the next 24 hours. More specifically, both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing bullish signs.
In the last couple of days, the MACD line has started to rise towards the MACD Signal line slightly. This gradual shrinking of the gap between these two technical indicators and their current alignment suggests BCH’s previous bearish trend might be coming to an end.
If the MACD line crosses above the MACD Signal line in the next 24 hours, it could be seen as a bullish technical development by traders. This might prompt them to enter into long positions for BCH and introduce buy pressure on the crypto’s price.
Meanwhile, buyers have started to grow stronger against sellers, which is suggested by the rise in RSI readings over the past 48 hours. What’s more, the current reading in the high 50s suggests there is still a fair amount of room left for the Bitcoin Cash price to climb before it enters overbought territory.
As the Bitcoin Cash price gears up for a potentially big move, investors are FOMO buying BTC Bull Token (BTCBULL) before its presale ends in less than 5 days. Prominent YouTube channel 99Bitcoins, which has over 723K subscribers, says BTCBULL has the potential to soar 10X after its launch.
Investors Stand To Receive Free Bitcoin For Simply Holding This Meme Coin
BTC Bull Token is more than just another meme coin project. Built on the conviction that the leading crypto will soar to $1 million per coin, possibly even higher, the project will reward its backers with BTC airdrops and BTCBULL token burns at certain price milestones.
Those airdrops will kick off when Bitcoin breaks $150K for the first, and will continue with every new $50K milestone BTC achieves after that. As such, investors will be able to profit from BTC’s gains without having to buy the crypto directly and take on additional risk.
The BTCBULL burns will follow the same $50K-milestone schedule, but will begin when the crypto king hits $125K for the first time.
That combination of BTC airdrops and BTCBULL token burns could pull investors in who are looking to receive free Bitcoin, while the token burns constantly reduce the supply and amplify the effect of the potential demand. This might result in the 10X rally that 99Bitcoins predicted would ensue after the token’s much-anticipated launch that is just days away.
Last Chance For Investors To Buy BTCBULL At Presale Prices
With just days left until the presale ends, the window of opportunity for investors that want to get in at this ground level of the project is rapidly closing.
Interested investors that don’t want to miss out can acquire BTCBULL via the easy-to-use widget embedded on the project’s website. Selling for $0.00258, BTCBULL can be bought with both crypto or bank card. Tokens can then also be staked for a 55% APY, giving investors a way to grow their holdings with minimal effort.
Anyone that wants to buy before the token’s launch will want to do so before the presale ends in less than 5 days.
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