The Bitcoin Cash Price Prediction and Analysis
The Bitcoin Cash price has experienced a 3% gain, bringing it to a potential resistance level of $200. Let’s dive into the statistics and key levels to understand the future direction of BCH.
Bitcoin Cash Prediction Statistics Data:
- Current BCH price: $196.18
- Market cap: $3.7 billion
- Circulating supply: 19.4 million BCH
- Total supply: 19.4 million BCH
- Coinmarketcap ranking: #18
BCH/USD Market
On the daily chart, BCH/USD has moved from $189.89 to cross above the 9-day and 21-day moving averages, reaching the resistance level of $200. If the bulls continue to apply pressure, the pair may spike further upwards.
Bitcoin Cash Price Prediction: What Could be the Next Direction for BCH?
Based on the daily chart analysis, Bitcoin Cash may continue its upward trend and potentially hit the nearest resistance level of $205. However, if bears enter the market, the coin could slide below the lower boundary of the channel. Today’s low at $189.85 now serves as a strong support level, but if broken, the sell-off may extend to $150.
The Relative Strength Index (14) is currently moving towards crossing above the 40-level, indicating the potential continuation of the bullish trend. Further resistance levels may be found at $295, $305, and $315 if the bulls push the price higher.
BCH/BTC Could Follow the Bullish Trend
In the BCH/BTC market, the coin is showing positive signs within the 9-day and 21-day moving averages. The short-term trend is ranging, but it may cross above the moving averages. Currently, BCH/BTC is trading at 752 SAT and could potentially reach the upper boundary of the channel.
If the coin moves northwards, it may encounter resistance at 1100 SAT. On the other hand, a bearish cross below the lower boundary of the channel may indicate a critical support level at 440 SAT. The Relative Strength Index (14) is moving towards crossing above the 50-level, signaling more bullish signals.
Bitcoin Cash Alternatives
While Bitcoin Cash shows potential for bullish trends, it’s important to consider alternative tokens. The $WSM token, for example, is rated as a “buy” due to its attractively inexpensive presale price. It’s advisable to purchase some tokens before the price increases. Additionally, the token has already raised over $25 million.
In conclusion, the Bitcoin Cash price has gained 3% and is approaching a resistance level of $200. The bullish trend may continue if the bulls dominate the market. However, caution is needed as the bears could push the price downwards. Consider alternative tokens like $WSM, which offer attractive investment opportunities.
By
By
By
By
By