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- 1 Bitcoin cash price prediction showcases the consolidation phase of BCH crypto.
- 2 BCH crypto has slipped below 20-EMA and is maintaining above 50, 100, and 200-day daily moving averages.
- 3 The pair of BCH/BTC was at 0.00838 BTC with an intraday drop of 2.24%.
Bitcoin Cash (BCH) price prediction suggests the sideways momentum of the crypto is inside the horizontal range-bound area. BCH crypto must accumulate buyers in order to surge toward the upper threshold of the consolidation phase. Meanwhile, the BCH crypto price is currently dropping toward the lower trendline of the horizontal range-bound area.
Bitcoin Cash price was at $241.79 and has lost 2.42% of its market capitalization during the day’s trading session. Trading volume decreased by 45.84% during the intraday trading session. This demonstrates that sellers are pulling BCH crypto price toward the lower trendline of the consolidation phase. The volume-to-market cap ratio was at 0.059.
Bitcoin Cash Price Prediction: Technical Analysis
Bitcoin Cash price prediction highlights the consolidation phase of BCH cryptocurrency over the daily time frame chart. Meanwhile, trading volume is below average and needs to grow in favor of buyers during the intraday trading session. However, BCH crypto has slipped below 20-EMA and is maintaining above 50, 100 and 200-days daily moving averages.
Bitcoin Cash price has gained from the $100.90 support zone on June 16th and gained till the end of June to reach the $330 recovery level. However, BCH couldn’t sustain at the $330 recovery level and slipped till $280 and then near $260 in the start of July. And then, BCH crypto got caged inside the consolidation phase in the price range of $233.14 and $265.15.
Moreover, Bitcoin Cash price has gained 1.62% in a week and 103.03% in the last three months. Also BCH crypto has surged around 77.86% in the last six months and 149.92% year to date. This confirms the facts regarding BCH crypto’s maximum recovery during 2023.
Technical indicators suggest the downtrend momentum of Bitcoin Cash price. Relative strength index and moving average convergence divergence both confirm the declining momentum of BCH cryptocurrency.
RSI was at 49 and is trying to sustain at neutrality. The MACD line is below the signal line after a negative crossover.
Investors in Bitcoin Cash cryptocurrency need to wait for any directional change over the daily time frame chart.
Summary
Bitcoin Cash price prediction indicates that the BCH crypto will trade sideways inside the horizontal range-bound area. Meanwhile, the BCH cryptocurrency price is falling towards the bottom trendline of the horizontal range-bound region. Meanwhile, trading volume is lower than usual and should increase in favor of buyers throughout the intraday trading session. Furthermore, the price of Bitcoin Cash increased by 1.62% in a week and by 103.03% in the previous three months. The price of Bitcoin Cash appears to be in a decline, according to technical indicators.
Technical Levels
- Support Levels: $238.25 and $233.10
- Resistance Levels: $252.90 and $265.00
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 or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
