Bitcoin (BTC) Cash Price Prediction: BCH Approaches Major Hurdle at $230
The Bitcoin (BTC) Cash price is experiencing a decent recovery wave, surpassing the $220 mark. As the coin continues to climb, it is approaching a whole lot of obstacle around $230.
Bitcoin (BTC) Cash Prediction Statistics Data:
- Bitcoin (BTC) Cash price now – $223.1
- Bitcoin (BTC) Cash market cap – $4.2 billion
- Bitcoin (BTC) Cash circulating supply – 19.5 million
- Bitcoin (BTC) Cash total supply – 19.5 million
- Bitcoin (BTC) Cash Coinmarketcap ranking – #18
BCH/USD Market
Key Levels:
Resistance levels: $260, $270, $280
Support levels: $170, $160, $150
The bulls are as of now in control of the BCH/USD market as the coin remains over the 9-day and 21-day moving averages. Nonetheless, to be able to overcome a major hurdle, the bulls need to gather enough momentum to push the coin over the upper boundary of the channel. The Relative Strength Index (14) likewise indicates upward movement as it sits over the 60-level with the signal line pointing north.
Bitcoin (BTC) Cash Price Prediction: BCH May Spike to the Upside
Upon analyzing the daily chart, it is evident that the Bitcoin (BTC) Cash price is poised for an upward breakout as the 9-day MA crosses over the 21-day MA. The more pressure exerted by the bulls on the bears, the higher BCH/USD will climb. If this upward trend continues, we can expect BCH/USD to reach resistance levels at $260, $270, and $280.
Nonetheless, if sellers regain control of the market, strong selling pressure could cause the price to fall below the moving averages. In such a scenario, a bearish movement might propel the price down to facilitate levels at $170, $160, and $150.
BCH/ Bitcoin Trades Bullishly
In the BCH/ Bitcoin market, the bulls are dominating as the price remains over the 9-day and 21-day moving averages. As of now, BCH is currently worth 816 SAT and has yet to surpass the upper boundary of the channel. Should a positive trend rally occur, resistance levels at 950 SAT and over could be encountered.
Traders can anticipate a sustained positive trend movement based on the Relative Strength Index (14), which is approaching the 60-level. Conversely, if there is a bearish movement towards the lower boundary of the channel, support at 650 SAT and below could come into play.
Alternatives to Bitcoin (BTC) Cash
The Bitcoin (BTC) Cash price continues to rise as it surpasses both the 9-day and 21-day moving averages. This positive trend momentum may lead to a retest of the broken resistance level at $225. The Relative Strength Index (14) likewise suggests more positive trend signals as it approaches the 65-level with the signal line pointing north.
In related news, XYZ token is as of now in its final stage before being traded on exchanges. This presents a chance for you to invest at a low presale rate before its official launch in the coming days. The token has already raised over $25 Million in presale funds.
Hot Take: Bitcoin (BTC) Cash Gains Momentum Towards Resistance Level
The Bitcoin (BTC) Cash price is on an upward trajectory as it approaches a key resistance level. With the bulls in control and numerous technical indicators signaling positive movement, BCH/USD may continue its positive trend trend. Nonetheless, if sellers regain control, a bearish movement might propel the price down to facilitate levels. In the BCH/ Bitcoin market, the bulls are dominating, but a breakout over the upper boundary of the channel is yet to occur. As an alternative to Bitcoin (BTC) Cash, XYZ token presents an investment opportunity before its official launch.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
