{"id":443423,"date":"2023-09-28T16:14:56","date_gmt":"2023-09-28T16:14:56","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=443423"},"modified":"2023-09-28T16:14:56","modified_gmt":"2023-09-28T16:14:56","slug":"bitcoin-cash-bch-price-prediction-bch-climbs-10-whats-behind-the-move","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-cash-bch-price-prediction-bch-climbs-10-whats-behind-the-move","title":{"rendered":"Bitcoin Cash (BCH) Price Prediction: BCH Climbs 10% – What’s Behind the Move?"},"content":{"rendered":"

Bitcoin Cash (BCH) has maintained its upward trajectory this week, with its price surging to $235<\/a>, reflecting a 0.2% increase in the past 24 hours as of 11:09 a.m. EST.<\/span><\/p>\n

Additionally, BCH has experienced a significant surge in trading activity within the last 24 hours, with its trading volume reaching $433 million, marking a 43% increase.<\/span><\/p>\n

BCH Price Breaks Above Bullish Pennant<\/span><\/h2>\n
\"BCH\/USD
BCHUSD Chart Analysis. Source: Tradingview.com<\/figcaption><\/figure>\n

BCH\/USD indicates a downward trend, pushing its value to a critical support level of $180. This support level has proven its strength through bearish attempts to push the price below it. <\/span><\/p>\n

This support level also acts as a springboard, giving the bulls the hind wings to raise prices. <\/span><\/p>\n

Furthermore, the price has broken above the bullish pennant, confirming the bullish momentum. The bulls are taking charge, breaking out of the falling wedge pattern.<\/span><\/p>\n

Adding to the bullish outlook sentiment is the analysis of the 50-day and 200-day simple day-moving averages, which reveal a significant SMA crossover at $121.<\/span><\/p>\n

Despite encountering resistance, these moving averages are still upholding a bullish sentiment. Both 50-day and 200-day moving averages are trading below the price at $204 and $176. The 200-day moving average has played a crucial role in offering support for the BCH price, providing a solid foundation for the bulls.<\/span><\/p>\n

Furthermore, the 50-day moving average trades below the price, confirming the bullish momentum, surpassing the $235 mark, and targeting the previous resistance at $335.<\/span><\/p>\n

The relative strength index (RSI) has rebounded from its neutral position of 50, trending at 67 upwards and inching closer to the overbought region of 70. <\/span><\/p>\n

This indicates intense buying pressure, raising the possibility of the RSI entering overbought territory.<\/span><\/p>\n

BCH is bullish, confirming this sentiment as candlesticks trade above the 50-day SMA. Key levels to watch are $255 and $335, respectively.<\/span><\/p>\n

Conversely, if the $230 resistance level remains resilient, the bears might seize this opportunity and drive the price to the 50-day SMA at $205, where the bulls will regroup to push the price higher aggressively.<\/span><\/p>\n

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