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- 1 BCH’s price is currently at $302.3, BCH is up by 51.73% in the last 24 hours.
- 2 Bitcoin Cash recorded a 182.9% increase in 24-hour trading volume.
- 3 The BCH price can see a further increase in its value
Bitcoin Cash price prediction implies that the investor’s sentiments regarding the BCH token are exceedingly bullish. The BCH recently made a positive where the token gained more than 150% of its value. The price of the BCH token is yet to take a correction after taking a divergence from the EMA lines. The Investors may prefer to keep a keen watch over the token. Presently, the Bitcoin cash price is above all the key EMA and MA levels.
The present value of Bitcoin Cash is $302.3 It has a market capitalization of around $5.88 Billion seeing a surge within the past few weeks.
The Increase In Overall Parameters
The majority of Overall parameters in the LunarCrush are highlighted in green which indicates that the community is active around the multiple social media platform. Total bullish sentiment metrics have surged by 22.7% whereas Total Social Engagement volume is up by 65.53% within the past week.
BCH Price Prediction: Technical Analysis On 1 Week Timeframe
As illustrated in the above weekly chart after consolidation for nearly 12 months the price of Bitcoin cash recently gave a breakout with an engulfing candle. The price is making a square pattern whereas the oscillators are still moving towards the overbought levels indicating that the BCH price may see a further increase in its value.
Technical Analysis (1 Day Timeframe )
Bitcoin Cash’s price is seeing a sudden surge in its value. The precise recent gave a long overdue breakout through the consolidation channel; the 50 EMA and 100 EMA crossed above the 200 EMA.
The RSI oscillator is moving near extreme overbought levels. The current value of RSI is 82.79 points, whereas the 14 SMA is providing support to it at 76.39 points.
The stochastic RSI is also consolidating near the end of the supply zone. The value of the stochastic RSI is 87.99 points. The %K line may soon give a hostile interception to the %D and the median line.
Conclusion
As per the analysis, the price of Bitcoin Cash investors’ sentiments regarding the BCH token are exceedingly bullish. The oscillators are moving near extreme overbought levels. On a longer timeframe, the technical indicators indicate that BCH price may see a further increase in its value. The Investors may prefer to keep a keen watch over the token.
Technical levels –
Support – $150.0
Resistance – $400
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
