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- 1 Bitcoin Cash’s crypto price is currently trading at $216.75 with a drop of 4.25% in the last 24 hours.
- 2 BCH has a current market cap of $4.228 Billion.
Bitcoin Cash price prediction suggests that the BCH crypto is presently moving in an uptrend after breaking out of the bears’ stronghold. The price is trading above the critical EMAs on the daily timeframe. The volume declined slightly which indicates that there is a fall in buying and selling activity.
If the price gains buyers’ support at the present level, it could see a surge near the $300 level within the next few weeks, whereas the immediate support level for the BCH is around $180. The price movements are relevantly more stable for BCH crypto than other major cryptocurrencies.
The buyers have an adequate probability of attaining the expected target if they are able to sustain the price above the 200 EMA which would put the anticipated outcomes in the bulls’ favor
The present value of BCH is $217.16 and it has a market capitalization of around $4.228 Billion (press time).
Bitcoin Cash price has been in a bull trend in the past few months. After the breakout, BCH crypto price found consistent support at the trendline. According to the historical price action, it can be estimated that the 200 EMA level has been acting as a crucial demand zone.
Technical Analysis of Bitcoin Cash Crypto Price in 1-D Timeframe
Bitcoin Cash ( USD: BCH) has steadily seen its crypto price rise for the past three months, gaining 101%; and 12% the last week. Currently (press time), BCH crypto is trading at $217 and has been trying to hold on to this level after an unexpected surge in price.
If it can sustain at this level, the Bitcoin Cash price could continue to go up and reach the first and second targets of $249.85 and $292.15, respectively. However, if the BCH price fails to hold this level, then it might hit the closest support levels of $164.71 and $207.01.
Currently, Bitcoin Cash crypto(USD: BCH) is trading above the 50 and 200-day SMAs (simple moving averages), which are supporting the price momentum.
However, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, the Bitcoin Cash price is expected to move upward giving bullish views over the daily time frame chart.
The current value of RSI is 60.56 points. The 14 SMA is above the median line at 45.44 points which indicates that the Bitcoin Cash crypto is bullish.
The MACD line at -1.23 and the signal line at -4.29 are above the zero line. A bearish crossover is observed in the MACD which signals weakness in the momentum of the BCH crypto price.
Summary
Bitcoin Cash (USD: BCH) technical oscillators also support the bullish trend. The MACD, RSI, and EMA are emphasizing positive signs and imply that the uptrend may continue in the BCH crypto price. Price action suggests that the investors and traders are bullish on the 1-Day time frame. The price action reflects a bullish perspective at the moment. However, investors and traders should wait for a proper setup for the next move and avoid FOMO.
Technical Levels
- Support Levels: $164.71 and $207.01.
- Resistance Levels: $249.85 and $292.15.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
